Senior Economic Developer

Capitalize Albany Corporation; City of Albany (NY); On-site; USD 75,000 - 95,000; Full time

Benefits offered by this job

Health, vision, and dental insurance

401-k retirement plan

Generous leave plan

Job summary

Capitalize Albany Corporation is hiring a Senior Economic Developer based in Albany, NY, responsible for managing economic development projects and financing programs. This leadership role involves engaging with developers and partner organizations to enhance Albany's business climate.

The ideal candidate should have a Bachelor’s degree, extensive experience in economic development, and strong project management skills. A competitive salary of $75,000 to $95,000 is offered, along with robust benefits including excellent insurance and a flexible work environment.

Qualifications

• 5+ years of hands-on experience in economic development.
• Understanding of economic financing practices.
• Excellent verbal and written communication skills.

Responsibilities

• Manage economic development projects from inquiry to completion.
• Plan and supervise project financing and management.
• Develop and implement economic development strategies.

Skills

Project management

Economic development principles

Real estate practices

Data processing

Communication skills

Education

Bachelor's degree in related field

Master's degree

Tools

Microsoft Office Suite

Adobe

WordPress

Job description

Immediate Opening | Employment Opportunity: Senior Economic Developer

About the Position

Capitalize Albany Corporation is seeking a highly‑motivated, professional and experienced candidate for Senior Economic Developer. This is a fast‑paced position responsible for managing the administration of the Corporation’s real estate development programs, including project development and financing and administration of the City of Albany Industrial Development Agency, Capital Resource Corporation and Capitalize Albany’s real estate projects. This position is supervised by and reports to the Vice President but works with everyone on the team.

The position serves as a primary point of contact for businesses, developers, property owners, and partner organizations and manages projects utilizing Industrial Development Agency (IDA) and Capital Resource Corporation (CRC) financing tools. The Senior Economic Developer leads complex development projects from initial inquiry through project completion, assists in implementing economic development strategies, and contributes to efforts that strengthen Albany’s tax base, business climate, and economic competitiveness.

About the Capitalize Albany Team

The small, dedicated and talented team at Capitalize Albany and its engaged and influential Board of Directors strive to inspire investment in the City of Albany, NY. The Corporation is a 501(c)3 not‑for‑profit organization and local public authority with the mission of facilitating strategic economic development and stimulating transformative investment throughout the City of Albany, making New York’s Capital a vibrant place to thrive. A catalyst for economic growth, Capitalize Albany Corporation serves as the City of Albany’s official economic development arm, developing economic development strategies and matching projects with the right partners, tools & resources to equitably stimulate transformational local real estate development & business investment. Capitalize Albany also manages the City of Albany Industrial Development Agency and Capital Resource Corporation – two critical tools for local development. As a staff, the Capitalize Albany team values drive, teamwork, flexibility and follow‑through and is looking forward to welcoming new perspectives and areas of expertise.

Our Community

The City of Albany, Capital of New York, has a population of approximately 100,000. With a rich history and located at the crossroads of two of the Northeast’s busiest interstate highways along the historic Hudson River, the City of Albany’s distinctive commercial districts and neighborhoods make Albany an urban center of diverse residential, commercial and institutional activity. In addition to being the seat of local, county and state government, the City of Albany is the commercial and cultural heart of a million‑person region with major growth in the healthcare, creative economy and technology sectors. The City is home to three hospitals, ten colleges and universities, and hundreds of thriving businesses across all sectors.

Albany is a small city with the potential for big impact. Its affordability, quality of life, and sense of community are matched by its access to major public and private‑sector organizations, diversity of cultural, natural and recreational destinations in the rich Capital Region, and easy proximity to major population centers like Montreal, Boston and New York. This combination offers unmatched opportunities for residents and businesses alike.

Responsibilities

Real Estate Development and IDA/CRC Administration

• Serves as project manager for economic development projects and investment opportunities, managing project inquiries and maintaining an active development pipeline.
• Effectively plans and supervises programs and staff related to project financing and management, development and implementation of internal and external projects/grants, ensuring they meet established goals and timelines.
• Manages IDA and CRC applications from intake through closing, including but not limited to review of project eligibility, project underwriting and financial analysis, preparing project summaries, resolutions, and supporting documentation.
• Monitors project compliance with agency policies and state and local reporting requirements, including detailed annual project data compilation and submission to New York State.
• Manages the administrative duties of three Boards (Capitalize Albany, the City of Albany Industrial Development Agency and the City of Albany Capital Resources Corporation) including project tracking and monitoring, attending and preparing minutes, presentations and materials for monthly board and committee meetings.
• Assists developers with site selection, permitting, financing, and incentive programs.
• Identifies funding opportunities and assists in preparing grant applications to secure financial resources on behalf of the Corporation or the City of Albany.
• Maintains inventory of available development sites and properties.
• Compiles and disseminates information as to desirable locations, availability of land, tax structure, utilities, transportation, labor, financing including tax exempt and any other community resources information related to a business relocation or expansion.
• Assists in the preparation and review of RFPs for services related to real estate development and other Corporation initiatives or required services as necessary.

Strategic Development and Stakeholder Engagement

• Develops and implements economic development strategies and plans that align with community goals.
• Assists with development and administration of incentive programs.
• Supports neighborhood commercial corridor and downtown revitalization efforts.
• Works and interacts professionally and diplomatically with government officials, business leaders, community and neighborhood organizations and the public to foster partnerships and support economic initiatives.
• Confers and maintains cooperative relationships with banks, real estate brokers, utilities, and chambers of commerce to monitor the status of economic development in the City.
• Establishes liaison with banks, commerce groups and trading companies in order to encourage investors to locate in the City.
• May act as the Corporation’s designee with community and neighborhood organizations, including representing the organization at community events or meetings to discuss economic development initiatives and build relationships.
• May act as staff or the Corporation’s designee to related boards, committees and other related development organizations, such as local Business Improvement Districts, the Albany Industrial Development Agency, Capital Resource Corporation and Albany Community Development Agency.
• Assists with the production and distribution of materials for the organization, including the preparation of official correspondence and regular updates to the organization’s website regarding projects, meetings and other information as needed.

Research and Analysis

• Conducts research and provides recommendations on economic development opportunities and best practices in business development, real estate development and strategic planning.
• Evaluates results of economic development studies and makes recommendations regarding opportunities for growth, investment and innovation.
• Evaluates the needs of businesses seeking assistance from the Corporation and proposes appropriate assistance packages.
• Prepares reports and presentations on economic development activities, outcomes and trends for stakeholders and decision-makers.
• Other duties as needed.

Qualifications and Skills

The successful candidate will have a bachelor’s degree in business, finance, economic development, economics, public administration, or a related field and at least five years of hands‑on experience. A master’s degree is preferred. The successful candidate must have experience in the economic development field including solid knowledge of the principles and practices employed in business development and project management. Understanding of real estate practices, competence in data processing, working knowledge of economic financing practices (grant programs, loans, tax credits, PILOTs, etc.), and analytic skills, to include financial feasibility criteria and assessment techniques, is desired. Familiarity with the New York State Consolidated Funding Application (CFA) process is preferred. Candidates must have demonstrated ability to effectively interact with business representatives, government officials, lending organizations and real estate professionals. The successful candidate must be well organized, personable, results‑driven and detail-oriented. Excellent people skills, verbal and written communication skills are critical. Flexibility and ability to manage multiple projects and tasks simultaneously and efficiently in a team and independently is essential. Having reliable transportation, Microsoft Office proficiency and advanced word processing skills are required. Advanced knowledge of Microsoft Excel, PowerPoint, Adobe and WordPress is desirable.

Capitalize Albany Corporation is an equal opportunity employer that values diversity. The ideal candidate will add a new perspective and skillset to complement the team’s existing strengths. An understanding of, affinity for and residency in Albany, NY upon hiring is desirable.

Compensation and Benefits

Capitalize Albany recognizes that its greatest strength is its people and is grateful to consistently attract and retain passionate, highly‑qualified and highly‑motivated individuals to carry out its impactful mission. As such, the Corporation offers a competitive benefits package. Salaries are commensurate with experience and performance, and are proactively and routinely assessed through formal performance reviews and third‑party analysis to ensure market competitiveness. The salary range for this position is anticipated to fall between $75,000 and $95,000 annually. Benefits include excellent health/vision/dental insurance and a robust 401‑k retirement plan. The Corporation offers flexibility in the work environment, including a generous leave plan and an adopted remote work policy, recognizing that an on‑site presence aligns most with the mission of the Corporation.