Skip to main content

Discover Real-world Career Paths With an Online MBA in Economic Development

Economic development is at the heart of community growth, shaping how regions attract investment, build infrastructure and create job opportunities. As economies evolve and face global challenges, the need for skilled professionals in economic development continues to rise. For those looking to make a meaningful impact in their communities while tackling issues like poverty alleviation, job creation and sustainable resource management, earning an online Master of Business Administration (MBA) with a concentration in Economic Development program from Murray State University offers an excellent pathway.

This program equips students with the theoretical foundation and practical skills to drive real-world economic progress. Graduates of this program can explore a variety of career paths, including urban and regional planner, economic development coordinator and economic development director. The following exciting roles are just a sampling of the many positions that graduates confidently take on and contribute to the success of communities.

Urban and Regional Planner: Shaping the Future of Communities

Urban and regional planners play a crucial role in determining how land and resources are used within a community. These professionals develop comprehensive plans that address various needs, such as transportation, housing and environmental sustainability. According to the U.S. Bureau of Labor Statistics (BLS), the median pay for urban and regional planners is $81,800 as of 2023. This reflects their significant responsibility in managing the growth of cities and towns.

Their work often involves meeting with government officials, developers and community members to create plans that balance economic development with environmental considerations. Planners must stay current on zoning laws, regulations and build codes, and ensure their plans are both feasible and sustainable. They also analyze data to assess community needs and work to make regions more attractive to businesses and residents alike. For those interested in shaping the future of cities and helping communities thrive, the role of an urban and regional planner offers a fulfilling career path.

Economic Development Coordinator: Bridging Communities and Businesses

Economic development coordinators focus on connecting local assets such as land, labor and infrastructure with business opportunities. They foster growth by building partnerships between businesses and local organizations, organizing community outreach efforts and promoting local economic initiatives. These professionals often act as liaisons, ensuring that private and public-sector interests align to achieve sustainable economic growth.

According to ZipRecruiter, economic development coordinators earn an average salary of $72,722 as of October 2024. Responsibilities include analyzing market trends, developing promotional materials and conducting presentations that highlight a region’s strengths to potential investors.

They also assist in implementing business attraction strategies, which are essential for revitalizing economically stagnant areas and creating new opportunities for residents. For those who enjoy working at the intersection of business and community, the role of an economic development project coordinator offers an engaging and impactful career.

Economic Development Director: Leading the Charge for Growth

Economic development directors are the driving force behind a region’s long-term economic strategy. They oversee all aspects of economic development, from research and planning to business recruitment and retention. These leaders focus on improving local economies by attracting new businesses, expanding existing ones and fostering joint ventures between the public and private sectors. Directors must be skilled at conducting market analysis and working with government officials to ensure that economic programs align with community goals.

According to ZipRecruiter, the average salary for economic development directors is $123,934. Directors not only manage large-scale projects but also advocate for policies that encourage business growth, such as tax incentives and infrastructure improvements. They are critical in ensuring that cities and regions adapt to changing economic conditions and remain competitive.

Becoming an economic development director typically requires a master’s degree and years of relevant experience. For those who aspire to lead economic initiatives at the city or regional level, this career offers a unique opportunity to make a lasting impact.

Preparing for a Career in Economic Development

Murray State University’s online MBA in Economic Development program gives students the tools to succeed in these career paths. The program covers core subjects such as accounting, business analytics and corporate finance, as well as specialized courses in economic development strategies and other topics.

Students gain practical knowledge in managing complex economic projects, working with diverse stakeholders and implementing strategies that promote sustainable growth. Whether graduates take positions as urban planners, economic development coordinators or directors, this program prepares them with the expertise to make a meaningful economic impact.

Learn more about Murray State University’s online MBA with a concentration in Economic Development program.

Related Articles

Our Commitment to Content Publishing Accuracy

Articles that appear on this website are for information purposes only. The nature of the information in all of the articles is intended to provide accurate and authoritative information in regard to the subject matter covered.

The information contained within this site has been sourced and presented with reasonable care. If there are errors, please contact us by completing the form below.

Timeliness: Note that most articles published on this website remain on the website indefinitely. Only those articles that have been published within the most recent months may be considered timely. We do not remove articles regardless of the date of publication, as many, but not all, of our earlier articles may still have important relevance to some of our visitors. Use appropriate caution in acting on the information of any article.

Report inaccurate article content: