Business Development Manager (Economic Development Manager)

City of Norfolk; Norfolk (VA); On-site; USD 70,000 - 81,000; Full time

Job summary

The City of Norfolk's Department of Economic Development seeks a Business Development Manager to lead BRE and business attraction initiatives, identify growth opportunities, and promote investment in Norfolk.

You will develop industry targets, coordinate with city agencies, prepare RFI responses and project pro-forma analyses, and help negotiate incentives to close projects, with a focus on creating jobs and expanding the tax base. Domestic/international travel will be required as needed.

Qualifications

• Bachelor's degree or equivalent in related field.
• Three years' experience in a related field or equivalent combination.
• Five years of economic development, marketing, and/or business development preferred.

Responsibilities

• Contributes to developing industry targets and participates in strategic planning.
• Supports BRE and attraction programming and drives new and existing business investment in targeted geographies and industries.
• Develops new business prospect leads for expansion in the Norfolk market.
• Responds to internally generated and partner-referred prospect leads.
• Starts and nurtures prospect relationships, providing information, resolving problems, and forming long-lasting professional relationships.
• Prepares and delivers responses to RFIs and follows up through appropriate channels.

Skills

BRE experience

Strategic planning

Relationship building

RFI responses

Pro forma revenue

Education

Bachelor's degree

Job description

The Department of Economic Development is seeking a knowledgeable and experienced professional in economic development or a closely related field to serve as the Business Development Manager (BDM), a key member of our Business Development team. The BDM will support business retention and expansion (BRE) efforts and business attraction strategies designed to strengthen Norfolk’s economic competitiveness. This role will generate business investment interest in Norfolk from both existing companies and out-of-market prospects; pursue strategic attraction and expansion opportunities in high-value, targeted industry sectors that diversify the city’s business base; support the growth of quality jobs for Norfolk residents; and enhance the city’s fiscal position through increased net revenue.

Working collaboratively with the Business Development team, the BDM will support BRE and attraction programming, identify market and industry growth opportunities, assess and fill available real estate options within the city, and contribute to improving Norfolk’s business climate and its competitive position within the region.

The mission of the Department of Economic Development is to stimulate economic growth by enhancing our business climate, fostering a diverse workforce to grow the tax base, and fueling the prosperity of Norfolk.

Departmental Hiring Salary Range: $70,486.56 - $80,884.94

Essential functions include but are not limited to:

• Contributes to developing industry targets and participates in strategic planning.
• In collaboration with the lead Business Development Manager, leadership, and staff, the BDM will work to implement business programs aimed at targeted geographies, industries and businesses, driving new and existing business investment.
• Develops new business prospects leads for new and existing businesses considering expansion in the Norfolk market.
• Responds to internally generated and externally, partner-referred, prospect leads.
• Starts and nurtures prospect business relationships, providing information, resolving problems, and forming long-lasting professional relationships.
• Prepares and delivers responses to Requests for Information (RFI’s) and follows-up through the appropriate channels.
• Prepares project pro-forma revenue calculations, identifies capacity for revenue sharing and assists in negotiating performance-based incentives if necessary to close on a project.
• Prepares City and Economic Development Authority paperwork, edits contracts and otherwise readies projects for approval.
• Supports the existing business community by listing their needs and removing barriers to business expansion and business retention.
• Supports new businesses by facilitating interactions between prospects and city departments, assisting in navigating city processes crucial to their establishing a presence in Norfolk.
• Coordinates a prospect businesses’ successful landing in Norfolk through start of operations and by offering aftercare services to ensure long term business retention.
• Perform other duties as assigned; executes retention, expansion and business attraction related duties as needed and based on market conditions.

Work requires broad knowledge in a general professional or technical field. Knowledge is normally acquired through four years of college resulting in a Bachelor's degree or equivalent; or equivalent in number of years of related professional or military experience.

Three years' experience in a related field; or an equivalent combination of education and experience.

Additional Preferred Experience:

• Five years of economic development, marketing, and/or business development experience.
• Considerable executive level interaction and marketing experience in an economic development office or corporate business environment.

Preferred, not required training:

Completion of economic development courses, certificates, or training related to the economic development field.

• A valid Virginia's driver's license and ability to obtain a passport (required)
• Domestic/international travel will be required as needed