TARCOG strives to be an advocate for, and partner with, the governments and citizens of the Region to create opportunities for self-sustaining economic development and improved quality of life. Operating under this mandate, TARCOG provides a wide array of results oriented services to local governments in the region, including assistance with governmental functions such as economic development and job creation as well as project funding associated with community development.
Economic Development Program
TARCOG is an Economic Development District (EDD) of the U. S. Economic Development Administration. As such, TARCOG maintains and updates a Comprehensive Economic Development Strategy (CEDS) for the region. The status of TARCOG as an EDD makes member government projects eligible to receive EDA funding. Through EDA, funding is available for infrastructure improvements based on job creation. (CEDS)
TARCOG is the region’s Local Development District (LDD) for the Appalachian Regional Commission (ARC). The ARC mission is “to be an advocate for and partner with the people of Appalachia to create opportunities for self-sustaining economic development and improved quality of life.” ARC spends millions of dollars for local infrastructure, economic development and vocational training projects. As the Local Development District of ARC, TARCOG works to bring a share of those funds to the region.
Revolving Loan Fund
TARCOG operates a Revolving Loan Fund (RLF) that helps local businesses finance expansions or obtain start-up capital The RLF is administered at the regional level and local businesses from Madison; Limestone; Marshall; Jackson; and DeKalb counties with 100 or fewer employees are eligible. Loan amounts are generally $25,000 – $200,000 (although exceptions can be made) and there is a job creation (or retention) requirement. Please click here for more information on RLF program.
Grant and Loan Application Assistance
TARCOG offers a full range of services to help local governments finance development projects. TARCOG informs local governments of funding sources, prepares their grant or loan applications, and helps to administer funded projects to insure compliance with federal and state requirements. TARCOG has statistics to help governments document the need for projects. Funds from grants and loans help communities lure employers, provide water and sewer service to residents, foster tourism, improve transportation, and provide recreational facilities and opportunities.
TARCOG serves as the region’s areawide clearinghouse. The Council coordinates information about available federal aid and distributes that information to local governments. The TARCOG Board of Directors also reviews local government applications for funding to avoid conflicts and duplications.