How To Become An Economic Development Internship: What It Is and Career Path

What is an economic development internship and how to become one

Updated January 8, 2025

3 min read

Quoted expert

Chad Miller Ph.D.

As a participant in an economic development internship, you will gain practical work experience. You'll be made familiar with various economic development programs and issues like business retention and expansion, finance, business attraction, real estate analysis, and innovation. You will contribute to research on technical assistance projects. Asides from that, you'll prepare reports, case studies, and presentations on related topics and trends. Furthermore, you'll help with implementing plans, strategies, and programs that support economic growth. Similarly, you'll support the economic development team on projects, programs, meetings, and events. Additionally, you'll provide administrative tasks.

To qualify for this internship, you must be a recent graduate or currently enrolled in a degree in economics, urban planning, international relations, or a related field. Applicants must have communication, organization, analytical, and multitasking skills. You must be proficient in Microsoft Office. These interns earn an average gross salary of $41,604 annually or $20 an hour. This varies from $46,000 to $37,000.

What general advice would you give to an economic development internship?

Chad Miller Ph.D.

Professor of Economic Development, Website

The study of economics and the practice of economic development are different. Economic developers need to understand how a local economy operates and basic macro/micro economics, but business and finance are more important skills than understanding economics. Economic developers typically work for local or state government organizations, chambers of commerce, or regional public-private partnerships marketing to attract business investment, retain and expand existing industry, or conduct small and entrepreneurial development programs in order create quality jobs, wealth, increase the tax base, and improve quality of life of a community. Economic developers need to be a 'jack of all trades' as they need to understand marketing, real estate development, public financing, business decision making, politics, as well as, other academic areas. Since so much different expertise is required, the ability to network is essential in order to utilize specific expertise needed to make the business investment happen.

ScoreEconomic Development InternshipUS Average

Salary

3.0

Avg. Salary $37,977

Avg. Salary $59,228

Stability level

4.3

Growth rate 6%

Growth rate 0.3%

Diversity

2.4

Race

American Indian and Alaska Native 0.25%

Asian 14.51%

Black or African American 6.25%

Hispanic or Latino 11.69%

Unknown 5.63%

White 61.67%

Gender

female 42.14%

male 57.86%

Age - 43

Race

American Indian and Alaska Native 3.00%

Asian 7.00%

Black or African American 14.00%

Hispanic or Latino 19.00%

White 57.00%

Gender

female 47.00%

male 53.00%

Age - 43

Stress level

4.3

Stress level is moderate

7.1 - high

Complexity level

10.0

Complexity level is advanced

7 - challenging

Work life balance

5.2

Work life balance is fair

6.4 - fair

Key steps to become an economic development internship

Explore economic development internship education requirements

Most common economic development internship degrees

Bachelor's

78.2 %

Master's

12.1 %

Associate

5.8 %

Start to develop specific economic development internship skills

Skills	Percentages
Stata	11.32%
SQL	10.54%
Econometrics	10.20%
PowerPoint	5.95%
Data Analysis	5.58%

Research economic development internship duties and responsibilities

Perform GIS inventory of city pedestrian infrastructure to achieve ADA compliance
Evaluate EDA grants to create best practice case study examples pertaining to long-term economic development.
Educate customers on product and BLS consumer information.
Generate and analyze STATA linear regressions to help forecast GDP!

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