Economic Development Specialist Job Description [Updated for 2025]

In the era of globalization, the role of Economic Development Specialists has never been more crucial.

As markets evolve and economies expand, the demand for skilled professionals who can cultivate, advance, and secure our economic growth escalates.

But what does it truly entail to be an Economic Development Specialist?

Whether you are:

• A job seeker seeking to understand the depth 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 Specialist job description template, structured for effortless posting on job boards or career sites.

Let’s dive right in.

Economic Development Specialist Duties and Responsibilities

Economic Development Specialists are professionals who focus on the growth and development of their organization’s economy.

They work with public and private organizations, develop strategies to improve the economic standing of their organizations, and ensure the sustainability of their plans.

Their duties and responsibilities include:

• Developing and implementing economic development strategies and plans
• Conducting research to identify economic issues and challenges
• Assessing potential business opportunities and investments
• Working closely with government officials and local businesses to foster economic growth
• Creating and presenting detailed reports and proposals for economic development
• Promoting the organization’s economic development initiatives to the community and potential investors
• Maintaining up-to-date knowledge of economic trends and developments
• Coordinating and participating in community planning, zoning, and infrastructure development meetings
• Evaluating the effectiveness of economic development programs and initiatives
• Assisting in the preparation of grants and funding applications to support economic development initiatives

 

Economic Development Specialist Job Description Template

Job Brief

We are seeking a qualified and dedicated Economic Development Specialist to join our team.

The primary function of this role is to stimulate and promote economic growth within our community.

This will involve analyzing economic data, identifying growth opportunities, and developing strategic plans to stimulate economic activity.

Our ideal candidate will have a strong understanding of economic trends and business principles, excellent analytical skills, and the ability to build and maintain relationships with key stakeholders.

 

Responsibilities

• Analyze economic data to identify trends, opportunities, and areas requiring improvement.
• Develop and implement economic development strategies and plans.
• Work with businesses, government entities, and community groups to promote economic growth and stability.
• Assist businesses with accessing resources and navigating regulatory processes.
• Coordinate and participate in promotional activities such as workshops, seminars, and trade shows.
• Prepare and present reports and proposals to stakeholders.
• Stay current with economic trends and developments.

 

Qualifications

• A bachelor’s degree in economics, business, public administration, or a related field. A master’s degree is preferred.
• Proven experience in economic development, strategic planning, or a related role.
• Strong knowledge of economic and business principles.
• Exceptional analytical skills and the ability to interpret complex data.
• Excellent communication, presentation, and negotiation skills.
• Ability to build and maintain relationships with a wide range of stakeholders.

 

Benefits

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

 

Additional Information

• Job Title: Economic Development Specialist
• Work Environment: This position requires a blend of office work and field work. Travel may be necessary for meetings, site visits, and community events.
• Reporting Structure: Reports to the Director of Economic Development or similar.
• Salary: Salary is based upon candidate experience and qualifications, as well as market and business considerations.
• Pay Range: $70,000 minimum to $120,000 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 Specialist Do?

Economic Development Specialists are professionals typically employed by government agencies, non-profit organizations, and consulting firms.

They may also work as independent consultants.

Their primary responsibility is to create, implement, and oversee programs that promote economic growth, create jobs, and enhance the quality of life in a specific area, such as a city, region, or country.

This involves analyzing data, identifying economic problems and opportunities, and developing strategic plans to address these issues.

Economic Development Specialists often work with other professionals, such as urban planners, business leaders, and government officials, to attract businesses and investments to their area.

They may also be involved in community outreach and education, helping residents understand the benefits of economic development.

They are also responsible for monitoring the effectiveness of their programs and making necessary adjustments.

This may include conducting surveys, researching economic trends, and tracking key performance indicators.

In addition, Economic Development Specialists often write grant proposals to secure funding for their programs and projects.

They may also represent their organization in meetings with potential investors and other stakeholders.

In a nutshell, the role of an Economic Development Specialist is to help communities and regions grow economically, improve the standard of living for their residents, and become more competitive in the global marketplace.

 

Economic Development Specialist Qualifications and Skills

An Economic Development Specialist should possess a unique blend of qualifications and skills that align with job responsibilities such as:

• An understanding of economic and community development principles to assess, design and implement strategies that foster economic growth.
• Strong research skills to analyze economic data, demographic statistics, business and industry trends, and other relevant information in relation to economic development.
• Excellent communication skills to effectively convey economic development plans and strategies to various stakeholders, ranging from businesses to local authorities and community groups.
• Problem-solving abilities to identify and address potential challenges and obstacles to economic development and growth.
• Project management skills to oversee economic development initiatives, ensuring they are completed on time and within budget.
• Ability to work collaboratively with a diverse range of stakeholders, from government officials to business owners, using good interpersonal skills.
• Knowledge of relevant local, state, and federal laws and regulations related to economic development.
• Grant writing and fundraising skills to secure funding for economic development initiatives.

 

Economic Development Specialist Experience Requirements

Candidates for the role of an Economic Development Specialist typically require a solid foundation in economics, business, or a related field.

Entry-level applicants often hold at least a bachelor’s degree and may have 1 to 2 years of experience in economic analysis, research, or development.

This experience can be gained through internships, academic research, or even entry-level roles in economic or business consulting firms.

Candidates with 3 to 5 years of experience often have more in-depth knowledge of economic development strategies and have likely been involved in the planning and implementation of economic development projects.

They may have experience in roles like Economic Analyst, Development Research Associate, or Economic Planner.

For candidates with more than 5 years of experience, they are often expected to have a proven track record in economic development, strategic planning, and policy development.

They may have held leadership roles in their previous positions and have the ability to lead a team of junior economic development officers.

They may also hold advanced degrees in economics, business administration, or related fields.

Senior-level positions may also require experience in grant writing, fundraising, and public speaking.

 

Economic Development Specialist Education and Training Requirements

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

This role demands a strong foundation in economic theory, research methodologies, and statistical analysis.

It is beneficial for candidates to have familiarity with software such as Microsoft Excel or other statistical analysis tools.

In addition to a bachelor’s degree, many employers prefer individuals with a master’s degree in economics or a related field.

This advanced degree should focus on topics such as economic development, strategic planning, or public policy.

Economic Development Specialists may also need to have a few years of relevant work experience, often in government or non-profit organizations, which could be obtained through internships or entry-level positions.

Certifications, while not always required, can showcase a candidate’s commitment to their professional growth and competence in the field.

These may include certifications in economic development, project management, or finance.

Continuing education is also crucial in this field due to the constantly evolving economic trends and policies.

This can be achieved through workshops, seminars, or relevant courses.

Lastly, strong communication, analytical, and problem-solving skills are critical for success in this role.

 

Economic Development Specialist Salary Expectations

An Economic Development Specialist can expect to earn an average salary of $70,361 (USD) per year.

However, the actual salary can vary based on factors such as years of experience, level of education, specific skills, and geographical location.

 

Economic Development Specialist Job Description FAQs

What skills does an Economic Development Specialist need?

Economic Development Specialists need to have strong analytical skills for understanding and interpreting complex economic data.

They also need excellent communication skills to explain their findings to a wide variety of audiences.

Project management skills, budgeting, and strategic planning abilities are also important.

Furthermore, an understanding of local, regional, and national economic trends can be beneficial.

 

Do Economic Development Specialists need a degree?

Most Economic Development Specialists have a bachelor’s degree in economics, business administration, public administration, or a related field.

Some roles may require a master’s degree.

Additionally, experience in economic or community development can be beneficial.

 

What should you look for in an Economic Development Specialist resume?

Look for a strong background in economics or a related field, as well as experience in economic or community development.

Skills such as project management, strategic planning, and data analysis should be highlighted.

Also, consider if they have knowledge of the local economy and any certifications relevant to economic development.

 

What qualities make a good Economic Development Specialist?

A good Economic Development Specialist is detail-oriented and has strong analytical skills to understand complex economic data.

They should be adept at problem-solving and decision making.

They must also be able to communicate effectively, as they’ll need to explain their findings to different audiences.

Furthermore, they should be able to work independently and as part of a team.

 

What is the role of an Economic Development Specialist in community development?

An Economic Development Specialist plays a crucial role in community development.

They assess the economic needs and growth of a community, develop and implement strategies for economic growth, work to attract businesses to the area, and help existing businesses expand.

They may also work on projects that improve infrastructure, housing, and other community services.

 

Do Economic Development Specialists work directly with businesses?

Yes, Economic Development Specialists often work directly with businesses.

They may help businesses find suitable locations within a community, assist with permit processes, or help them access financing or tax incentive programs.

They also work to ensure that businesses have the resources they need to succeed and grow.

 

Conclusion

And there you have it.

Today, we’ve demystified the role of an Economic Development Specialist.

Surprise, surprise?

It’s not just about crunching numbers.

It’s about shaping the financial future, one economic strategy at a time.

With our reliable Economic Development Specialist job description template and real-world examples, you’re ready to take your career to the next level.

But why limit yourself?

Explore further with our job description generator. It’s your ultimate tool for creating detailed job listings or refining your resume to absolute perfection.

Always remember:

Each economic strategy is a piece of the larger puzzle.

Let’s shape that future. Together.

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