The economic development staff consists of three people who work with local government representatives, industrial recruiters, bankers, and business owners and managers to promote economic development of the region. Our definition of economic development would include any activity that provides additional employment opportunities, increases tax revenues, and/or improves the overall business climate of the area.

SCTDD economic development staff can provide demographic information and statistics, assistance in refining business plans and ideas, financial counseling, recommendations for sources of financing, and assistance in preparation of loan applications.

We administer several loan programs directly and work with other agencies that have loan programs such as the Small Business Administration, the Tennessee Valley Authority, the Tennessee Department of Economic and Community Development, and Rural Development of the US Department of Agriculture.

The primary advantage to these loans programs usually is not a lower interest rate, but the fact that by using them, sometimes in conjunction with normal commercial lending sources, one can get a project done that would not be possible without the assistance of the governmental agency program.

The web links are not intended to be a complete listing of the economic development loan programs with which we work, but are examples of the types of loan programs that are available. The first step in the process, whether the business is new or expanding, is to prepare a business plan. When you have a draft of the business plan give us a call and we will be glad to meet with you.