In August of 1997 the Cottage Grove Village Board decided to establish an organization to promote the economic growth of the Cottage Grove Area. Initially this group was called Cottage Grove Talks Business. It was formed with the idea of initiating and maintaining a long-term commitment of cooperation with the Village, the Township as well as the local Business Community. The group was given the task to help manage and promote the business growth of the Cottage Grove Community and to have the authority to help implement development strategies. One of its first projects was hosting an economic workshop to which many area communities sent representatives.
The next action of Cottage Grove Talks Business was to bring in Planworks, an outside consulting firm, to do an economic study of the potential for the Cottage Grove Area. Their recommendations included an upscale North Business Park, planning for a new downtown and to form the Cottage Grove Economic Development Corporation.
The Cottage Grove Economic Development Corporation was officially chartered on January 1st, 1999. The Cottage Grove Economic Development Corporation is comprised of a Village representative, a Town representative and interested local Business People. It maintains a politically neutral viewpoint. The CGEDC promotes the economic interests of the Township of Cottage Grove and the Village of Cottage Grove.