Economic Development Director Salary
Economic Development Directors in the United States take home approximately $69K annually on average. Men make up a slight majority of Economic Development Directors (55 percent) who responded to the survey. Most Economic Development Directors like their work and job satisfaction is high. Most enjoy medical while the greater part get dental coverage. Vision coverage is also available to more than half. The data in this summary comes from the PayScale salary survey.
|Salary||$43,655 - $116,297|
|Bonus||$487.22 - $20,273|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$42,798 - $120,248|
|Bonus||$487.22 - $20,273|
|Total Pay (||$42,798 - $120,248|
Job Description for Economic Development Director
Economic development directors oversee fundamental tasks regarding the advancement of their company's economic development. Those in this position are expected to develop policies which facilitate the growth of their area of operation and develop working relationships with members of the community, including local businesses and the general public. Maintaining these personal relationships is often the key to success in this position.Read More...
Duties revolve around fostering the growth of the economy of one's assigned area by developing new and innovative policies. He/she may fulfill tasks such as researching the best policies for their company, addressing economic issues within the community, and developing new ways to handle them. This director may also negotiate property sales to assist in economic development endeavors.
Those in this position may have various legislative duties and may be expected to serve on committees if assigned to do so. They may be expected to promote local businesses or the sales of lots to prospective businesses in order to further develop the local economy. They will also work on finances in various aspects of their business. Knowledge of maintenance of various structures and their status in attracting potential businesses can be especially important to the role.
Economic Development Director Tasks
- Hire, mentor, and evaluate a team, setting goals, and defining projects.
- Collaborate with many stakeholders and create positive relationships.
- Develop and implement policies to expand reach and scope of department.
- Create, report on, and adjust department budget, including setting goals.
Pay by Experience Level for Economic Development Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
Experience is an important factor influencing the compensation of Economic Development Directors. Survey participants with less than five years' experience pocket $54K on average, but those with five to 10 years of experience enjoy a much bigger median of $69K. Economic Development Directors claiming one to two decades of experience make an estimated median of $86K. More than 20 years of experience mean a somewhat bigger median paycheck of $88K, but it's not much more than what less experienced people make.
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Key Stats for Economic Development Director
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