Finding Your Niche in Economic Development

Economic Development is a very broad field. There are many types of organizations and a lot of different areas that you can focus on. In this episode, Dennis and Broderick compare and contrast the different types of economic development organizations from one-person offices to the corporate world.

Pros and cons of being part of a smaller organization

• Fewer resources
• Smaller budgets
• More opportunities to make a direct impact
• Opportunities to work in many areas

Larger organizations also have their pros and cons

• More resources
• Larger budgets
• Opportunity to specialize in an area
• Harder to make a direct impact
• Easier to get lost in the shuffle

The IEDC Certification process is a good way to learn about many areas of economic development.

Core Competency courses (all four required):

• Introduction to Economic Development or Basic Economic Development Course (BEDC)
• Business Retention and Expansion
• Economic Development Credit Analysis
• Real Estate Development & Reuse

Elective Competency Courses (minimum of 2):

• Economic Development Finance
• Economic Development Marketing & Attraction
• Economic Development Strategic Planning
• Entrepreneurial and Small Business Development Strategies
• Neighborhood Development Strategies
• Management Economic Development Organizations
• Technology-led Economic Development
• Workforce Development
• Foreign Direct Investment & Exporting