This position is responsible for conducting research and analysis to support economic development and marketing activities of the City of Newport News’ Department of Development and the Economic/Industrial Development Authority (EDA/IDA) of the City of Newport News, Virginia. Reports to the Assistant Director of Development. There are three (3) levels of Economic Analyst, distinguished by the level of work performed and the level of experience of the employee.
Essential Job Functions
Collects and updates statistical data and analysis for various marketing publications, reports requested from Management, and supports team-based planning and implementation activities of the Department and the EDA/IDA. Serves as Enterprise Zone Coordinator to include application assistance, applications, annual report and marketing. Coordinates and markets other business incentive programs to include Commercial Rehabilitation and Property Tax Abatement and Historically Underutilized Business Zones (HUB) Zones.
Conducts periodic cost benefit model updates and forecast adjustments for business incentive estimates and development projects. Compiles information and prepares reports to include annual reports to outside agencies and departments and semi-annual updates to marketing publications/reports. Performs other duties as assigned.
Required Knowledge and Skills and Abilities
· Economics – Knowledge of the theories, principles, practices, and techniques of economic development. Knowledge of quantitative research methods and techniques. Knowledge of principles and techniques of fiscal and economic impact studies.
· Technology – Knowledge of computer applications, including word processing and spreadsheet software.
· Judgment/Decision Making – Evaluating the best method of research and then exercising appropriate judgment in establishing priorities and resolving complex matters. Considers the relative costs and benefits of potential actions to choose the most appropriate one.
· Time Management – Plans and organizes daily work routine. Establishes priorities for the completion of work in accordance with sound time-management methodology. Excellent skill inplanning and coordinating multiple projects and activities.
· Interpersonal Relationships – Develops and maintains cooperative and professional relationships with employees and all levels of management to include representatives from other departments, business owners.
· Financial and Data Management – Ability to perform numerical computations and data manipulation, to include developing fiscal and economic estimates and mathematical projections. Ability to perform general to complex quantitative analysis, to make long-range fiscal projections and to analyze research data to draw policy conclusions and make recommendations.
· Communication – Excellent ability to effectively listen and understand directions, information and ideas presented verbally and in writing. Effective verbal and written communication skills to include the ability to prepare and effectively present clear, concise, and persuasive reports and other correspondence.
· Economic Analyst I – Bachelor’s Degree in Business Administration, Finance, Economics, or a related field in the social sciences with courses in research methods and statistics and 1-2 years of experience or an equivalent combination of education and experience.
· Economic Analyst II – Bachelor’s Degree in Business Administration, Finance, Economics, or a related field in the social sciences with courses in research methods and statistics and 3-5 years of economic analyst or closely related work experience or an equivalent combination of education and experience.
· Senior Economic Analyst – Bachelor’s Degree in Business Administration, Finance, Economics, or a related field in the social sciences with courses in research methods and statistics and 5-7 years of economic analyst or closely related work experience or an equivalent combination of education and experience.