Economic Development Job Description
Economic development professionals plan, monitor and promote efforts to attract new businesses to a region or community. Often employed by local governments, these specialists play a critical role in the growth of many cities and towns by spearheading efforts to market communities as business-friendly environments.
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Identification
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The U.S. Bureau of Labor Statistics does not treat economic development as a separate occupational category, but includes it as part of the larger category of urban and regional planning. Urban planners develop land-use plans for the growth of cities and towns. Economic development specialists engage in planning activities, such as land use, designed to foster economic growth through continued business investment.
Features
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According to the Bureau of Labor Statistics, most urban and regional planners work for local governments. Many cities operate economic development departments or employ an economic development director. Phoenix, Arizona, describes some of the responsibilities typically exercised by economic development specialists. They identify important factors for attracting and retaining business activity, work with city officials to develop strategic plans for economic development, represent the communities they serve in presentations to private industry, and market their cities as areas favorable for business relocation or expansion. As part of economic development efforts, they also may help write policies or draft incentives designed to attract new business opportunities.
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Qualifications
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Employment as an economic development director or specialist requires a range of knowledge, skills and abilities. These include knowledge of the best practices in economic development, as well as an understanding of government policies and their effect on the business community. Economic development specialists also should understand effective planning principles and be skilled in marketing and promotion techniques.
Benefits
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By leading efforts to attract new industry and retain existing businesses, economic development officials play a pivotal role in the growth of the cities and towns in which they work. Relocation of new businesses to a city and the expansion of existing firms create new jobs for city residents and generate additional revenues for city coffers, enabling the city to expand services and infrastructure to better accommodate growth and keep taxes low.
Potential
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The Bureau of Labor Statistics forecasts 19 percent growth in opportunities between 2008 and 2018 for urban and regional planners, including specialists in economic development. According to the bureau, planners will be necessary to assist with the range of issues faced by growing, affluent communities. Economic development planners can help cities keep pace with growth while continuing to foster further economic expansion.
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References
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- Photo Credit coastline development image by FotoWorx from Fotolia.com
