Goggin finished alone in second position and will begin his quest for PGA Tour status in 2014 with a cheque for just over US$60,000.
Beginning the final round with a two shot lead, Goggin began perfectly with a birdie at the first but a double bogey at the 3rd hole appeared as if it might be costly in the outcome and so it proved.
The Tasmanian did bounce back though with three birdies in the next five holes and although he bogeyed the 9th he was in control again. Then, however, came the par four 11th where a triple bogey would play a key role in the final result.
Foley still though had work to do. He and Goggin were tied for the lead playing the last with Foley in the group ahead. Foley birdied to put the pressure back on the Australian who could only manage a par and the title went to the American.
Roland Thatcher had a grfeat chance to win the event after taking the lead through 11 holes but dropped four shots from there to finish tied for 4th.
For Foley, in his second season on the Web.Com Tour, it was his first victory.
Nick Flanagan produced his best result since his surprise win early in 2012 when he finished in share of 9th.
Gavin Coles also had a good week when he finished 13th.
The Web.com Tour now heads to Bogota in Colombia for this week's Colombia Championship.