Economic Development Analyst Job Description [Updated for 2025]

economic development analyst job description

In today’s global economy, the role of an Economic Development Analyst has become increasingly crucial.

As economies continue to evolve, the demand for strategic thinkers who can drive, nurture, and secure our economic growth amplifies.

But let’s delve into the details: What is genuinely expected from an Economic Development Analyst?

Whether you are:

  • A job seeker trying to comprehend the nature of this role,
  • A hiring manager outlining the perfect candidate,
  • Or simply fascinated by the dynamics of economic development,

You’ve landed in the right place.

Today, we present a customizable Economic Development Analyst job description template, designed for effortless posting on job boards or career websites.

Let’s dive right in.

Economic Development Analyst Duties and Responsibilities

Economic Development Analysts use their knowledge of economic principles and research methods to analyze data related to economic development.

They make recommendations for policies and programs to improve economic growth and sustainability.

Their duties and responsibilities include:

  • Collecting and analyzing economic data from various sources
  • Creating economic models to predict future economic conditions
  • Researching and understanding current economic issues and trends
  • Writing reports explaining research methods, findings, and recommendations
  • Presenting research findings to stakeholders in an understandable way
  • Assisting in the development of policies and programs to encourage economic growth
  • Evaluating the effectiveness of economic development programs and initiatives
  • Consulting with stakeholders to understand their economic goals and needs
  • Keeping up-to-date with latest economic theories and models

 

Economic Development Analyst Job Description Template

Job Brief

We are looking for a motivated Economic Development Analyst to assist in the planning, development, and implementation of economic development projects and programs.

Your responsibilities include performing economic and financial analyses, preparing reports, and assisting in the formulation of strategies to promote economic growth.

Our ideal candidate is highly analytical, proficient in economic modeling and forecasting, and has a deep understanding of the economic development field.

Ultimately, the role of the Economic Development Analyst is to support our efforts in promoting economic growth and sustainability in alignment with the organization’s strategic goals.

 

Responsibilities

  • Conduct economic and financial analysis related to economic development projects and initiatives
  • Prepare reports, presentations, and other communication materials to present findings and recommendations
  • Support the development of strategies for economic growth and sustainability
  • Monitor and analyze economic trends, industry developments, and market dynamics
  • Collaborate with team members and stakeholders on project planning and implementation
  • Contribute to the development and review of economic policies
  • Participate in community outreach and education efforts
  • Assist in grant application and management processes

 

Qualifications

  • Proven work experience as an Economic Analyst, Economic Development Analyst or similar role
  • Strong knowledge of economic theories, models, and methodologies
  • Proficiency in statistical analysis software, such as SAS, Stata, or R
  • Excellent data analysis and report writing skills
  • Ability to handle multiple projects and meet deadlines
  • BSc/MSc degree in Economics, Finance or relevant field

 

Benefits

  • 401(k)
  • Health insurance
  • Dental insurance
  • Retirement plan
  • Paid time off
  • Professional development opportunities

 

Additional Information

  • Job Title: Economic Development Analyst
  • Work Environment: Office setting with occasional travel for site visits and meetings
  • Reporting Structure: Reports to the Economic Development Manager
  • Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
  • Pay Range: $70,000 minimum to $100,000 maximum
  • Location: [City, State] (specify the location or indicate if remote)
  • Employment Type: Full-time
  • Equal Opportunity Statement: We are an equal opportunity employer and value diversity at our company. We do not discriminate on the basis of race, religion, color, national origin, gender, sexual orientation, age, marital status, veteran status, or disability status.
  • Application Instructions: Please submit your resume and a cover letter outlining your qualifications and experience to [email address or application portal].

 

What Does an Economic Development Analyst Do?

Economic Development Analysts often work for local or state governments, economic development agencies, or consulting firms.

They may also work as independent consultants.

Their primary role is to research, analyze, and interpret economic data to assist in the decision-making process related to economic development projects and initiatives.

This includes assessing the economic feasibility of various projects, predicting economic outcomes, and evaluating the impact of economic policies and regulations.

They gather information about market trends, economic conditions, employment statistics, and other factors that may affect economic development.

They use this information to develop reports, presentations, and recommendations for policymakers, stakeholders, or clients.

Economic Development Analysts also work closely with various stakeholders such as businesses, community groups, and government officials.

They may assist in the planning and implementation of economic development strategies and initiatives.

They often use statistical analysis software and economic modeling tools to analyze data and develop economic forecasts.

They also monitor and evaluate the effectiveness of economic development programs and initiatives, making recommendations for improvements when necessary.

Lastly, they may be involved in grant writing or funding applications related to economic development projects.

 

Economic Development Analyst Qualifications and Skills

An Economic Development Analyst should possess a unique combination of analytical skills, economic understanding, and interpersonal abilities to drive the economic growth of an area.

These skills and qualifications include:

  • Strong analytical skills to interpret economic data, identify trends, and make predictions on future economic growth.
  • Understanding of economic principles, models and theories to assess and guide economic development strategies.
  • Excellent research skills to gather and analyze data from various sources like financial reports, market research, etc., and to keep updated with the latest economic trends.
  • Proficient in statistical analysis software and tools to manage and analyze data effectively.
  • Exceptional communication skills to present complex economic concepts in an easily understandable manner to a variety of audiences such as policy makers, stakeholders, or the public.
  • Ability to work collaboratively with a variety of stakeholders including government officials, community leaders, businesses, and more.
  • Problem-solving skills to address economic issues, propose solutions, and evaluate their impact.
  • Project management skills to oversee and direct economic development projects from inception to completion.
  • Knowledge of local, regional, and national economic issues to make informed decisions and strategies for economic development.

 

Economic Development Analyst Experience Requirements

Entry-level candidates for Economic Development Analyst positions generally require a Bachelor’s degree in Economics, Business, Urban Planning or a related field, and typically 1 to 2 years of relevant work experience.

This experience can be obtained through internships, part-time roles, research assistant positions or volunteering in economic development organizations.

Candidates with 3 to 5 years of experience likely have had roles such as Economic Research Analyst, Policy Analyst, or Economic Development Assistant.

They may have developed specific skills in areas such as data analysis, strategic planning, project management, and grant writing.

Those with more than 5 years of experience in the field of economic development might have held positions like Economic Development Specialist or Economic Development Coordinator.

Such candidates often have substantial experience in the planning, coordination, and implementation of economic development projects and strategies.

They may also have acquired some leadership or supervisory experience and could be ready for managerial or lead roles in Economic Development.

It’s also beneficial for these candidates to have a Master’s degree in Business Administration, Economics, or Urban Planning, and certifications in economic development could give them an edge in the job market.

 

Economic Development Analyst Education and Training Requirements

Economic Development Analysts typically require a bachelor’s degree in economics, business administration, public policy, or a related field.

A strong background in economic theory, data analysis, and business strategy is crucial.

Additionally, proficiency in statistical software such as STATA, SPSS, or R, and data visualization tools like Tableau are generally required.

Some positions, particularly those in government or large corporations, may require a master’s degree in economics, business, or public policy.

Specialized certifications in economic development, such as the Certified Economic Developer (CEcD) certification, can be beneficial and demonstrate a commitment to the profession.

Skills in project management, financial analysis, strategic planning, and community development are often desired.

To keep up with the ever-changing economic landscape, ongoing learning and professional development are essential for Economic Development Analysts.

 

Economic Development Analyst Salary Expectations

An Economic Development Analyst can expect to earn an average salary of $63,057 (USD) per year.

This figure can fluctuate depending on factors such as the level of experience, educational qualifications, location, and the industry in which they are employed.

 

Economic Development Analyst Job Description FAQs

What is the educational requirement for an Economic Development Analyst?

An Economic Development Analyst typically requires a bachelor’s degree in economics, business administration, public policy, or a related field.

However, some employers may prefer candidates with a master’s degree.

Specialized courses in economic development, project management, and statistical analysis are also beneficial.

 

What skills are essential for an Economic Development Analyst?

Key skills for an Economic Development Analyst include strong analytical abilities, excellent communication skills, and the ability to interpret complex economic data.

They must also have strong problem-solving abilities and be proficient in statistical analysis software.

A good understanding of local and global economic trends and the ability to work in a team are also crucial.

 

What are the core duties of an Economic Development Analyst?

An Economic Development Analyst typically conducts research on economic conditions and trends, analyzes data to develop economic development strategies, and prepares reports and presentations for stakeholders.

They might also be involved in evaluating and monitoring development projects, performing cost-benefit analyses, and developing economic models to forecast economic conditions.

 

What qualities make a successful Economic Development Analyst?

A successful Economic Development Analyst is a strategic thinker with strong quantitative skills and a keen understanding of economic principles.

They should have the ability to synthesize complex data into actionable insights and the ability to communicate these insights effectively to a variety of stakeholders.

They should also be self-motivated, detail-oriented, and have a strong interest in economic policy and development.

 

Is it challenging to hire an Economic Development Analyst?

Hiring an Economic Development Analyst can be challenging due to the specific skill set required for the role.

It’s essential to find candidates who have strong analytical skills, a good understanding of economic principles, and the ability to apply these principles to real-world situations.

Offering competitive salaries and opportunities for professional development can help attract top-quality candidates.

 

Conclusion

And that’s the wrap.

Today, we’ve shed light on the crucial role of an economic development analyst.

Surprise, surprise!

It’s not just about crunching numbers.

It’s about shaping the economic landscape, one strategic analysis at a time.

Equipped with our hands-on economic development analyst job description template and real-world scenarios, you’re ready to make your next career leap.

But don’t stop just yet!

Dive deeper with our job description generator. It’s your next step to crafting razor-sharp job listings or refining your resume to stand out in the crowd.

Keep in mind:

Every economic strategy contributes to the larger economic narrative.

Let’s shape that future. Together.

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