Salary Range for Economic Development Jobs
Economic development professionals direct and carry out efforts by states, cities and towns to attract new industries and business investment, creating more jobs in the communities they serve. Economic development work requires extensive interaction with government and business leaders, as well as marketing an area as a business-friendly place. Economic development jobs exist in state and local governments, consulting firms and nonprofit organizations. Salaries for these jobs differ by employer and job title.
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Urban and Regional Planners
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The U.S. Bureau of Labor Statistics does not classify economic development as an occupational category, but collects employment and salary information on urban and regional planners. People in this occupation develop short- and long-term plans for land use and work with officials to alleviate social and economic problems. Economic development relates closely to issues of urban and regional planning, involving land and infrastructure use that attracts new business and supports the expansion of existing firms in the community. The BLS reported that urban and regional planners earned a median annual salary of $59,810 in 2008, with the median 50 percent in this field earning between $47,000 and $76,000 a year.
Economic Development Directors
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Economic development directors spearhead economic development campaigns and activities in the communities they serve. Pay Scale Inc. reported in 2010 that economic development directors' salaries ranged from $47,166 to $89,108 a year. Information from the Pay Scale website suggested that local governments were the main employers of economic development directors. However, some economic development directors work for nonprofit organizations, such as economic development corporations that coordinate development efforts for a city or county.
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Economic Consultants
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Economic consultants employed by management consulting firms and government agencies may work on areas related to economic development. According to 2010 salary survey data from Pay Scale, economic consultants earned between $54,000 and $98,000 a year. Economic consultants in management and other consulting firms earned between $57,000 and $91,000 a year.
Other Jobs
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Pay Scale's website reported on salaries for other economic development jobs, which it classifies as the "Arts and Economic Development" industry. Job titles under this heading include executive director of a nonprofit organization, business development manager and administrative assistant. Executive directors earned an average of $51,749 a year, while business development manager salaries averaged $55,000 a year. Administrative assistants, who may assist economic development directors in government agencies or nonprofit corporations, earn an average of $33,000 a year.
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