Economic Development Director Salary
Median pay for Economic Development Directors in the United States lies in the neighborhood of $68K per year. Men working as Economic Development Directors who took the survey just slightly outnumber women at 58 percent. Job satisfaction for Economic Development Directors is high. A large number report receiving medical coverage from their employers and a majority collect dental insurance.
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.
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Pay by Experience Level for Economic Development Director
Median of all compensation (including tips, bonus, and overtime) by years of experience.
In general, experience and pay appear to be strongly linked; those with more experience usually bring in higher incomes. The average worker who claims fewer than five years of experience earns around $53K. In contrast, however, individuals who report five to 10 years in this occupation see a much larger median of $68K. People with 10 to 20 years of experience make an average of about $86K in this role. More than 20 years of experience mean a somewhat bigger median paycheck of $89K, 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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