Director of Economic Development

EXECUTIVE DIRECTOR

ADDISON COUNTY ECONOMIC DEVELOMENT CORPORATION

Mission:

The Addison County Economic Development Corporation is a 501(c)(6) non-profit, member-based, regional economic development organization. ACEDC’s mission is to create an entrepreneurial and innovative environment, nurturing businesses to launch, grow, and thrive. ACEDC assists entrepreneurs and business owners from all backgrounds, businesses of all sizes, during all stages of growth, while advancing economic and community development in Addison County, Vermont.

Position:

The Executive Director is the Chief Executive Officer of the Addison County Economic Development Corporation (ACEDC). The Executive Director reports to the Board of Directors, and is responsible for overseeing the organization’s strategy, tactics, and day-to-day operations including administration, personnel, programs, and services to ensure the consistent and sustained achievement of its mission, goals, and objectives.

This is a full-time position located in Middlebury, Vermont, with the potential for some remote work. The position requires frequent travel within Addison County and occasional statewide travel. Compensation commensurate with experience. Candidates interested in this position should submit a cover letter and a resume or CV to Fred Kenney at fkenney@addisoncountyedc.org no later than 5:00 p.m. on December 20, 2024. 

Essential Duties and Responsibilities:

1. Strategic vision and leadership

·        Collaborate with board, staff, and partners to continually refine and implement the organizational strategic plan while ensuring that the budget, staff, and priorities are aligned with ACEDC’s core mission.

·        Ensure that the organization’s strategic plan and operations remain aligned with the Regional Economic Development Plan and the Comprehensive Economic Development Plan guiding the EDA-approved Economic Development District.

·        Provide inspirational leadership and direction to staff; provide and promote a supportive and collaborative working environment.

·        Ensure the continued development and management of a professional and efficient organization.

·        Establish effective decision-making processes that will enable ACEDC to achieve its long- and short-term goals and objectives.

·        Develop and maintain excellent relationships with local, regional, state, and federal partners.

·        Maintain a working knowledge of state, regional and local economic data and trends, regional economic and business issues and concerns, and significant economic and community development trends and solutions.

2. Business development and support

·        Provide resource, referral, and liaison services to and between Addison County businesses and entrepreneurs and the various support services available locally, regionally, and at the state and federal levels.

·        Meet regularly with entrepreneurs and businesses interested in starting, growing, and sustaining a business in the county to understand their needs, impediments, and issues, identify solutions and make referrals, and to identify business trends.

·        Respond to requests for information and support from individuals and businesses looking to move businesses to Addison County.

·        Implement all activities required by the performance grant between ACEDC and the Agency of Commerce and Community Development (ACCD)/Department of Economic Development.

3. Management, operations, and board relations

·        Oversee the day-to-day operations of the organization.

·        Oversee the financial well-being of the organization, including the development of the annual budget, monitoring the budget, ensuring sound financial controls are in place, and continual research on new sources of revenue.

·        Ensure compliance with all federal and state requirements relative to ACEDC operations, funding, and programs.

·        Recruit, retain, and support staff; ensure their alignment with ACEDC’s mission, and motivate them to do their best work for the organization.

·        Ensure that adequate funds are available to permit the organization to carry out its work.

·        Lead annual membership drive and ongoing solicitation of new members.

·        Cultivate a strong and transparent relationship with the Board of Directors.

·        Ensure continuation of leadership through sustained board member recruitment.

·        Ensure measurement and reporting of financial, programmatic, and impact performance against the organizational strategic plan, regional plan, CEDS, and grant from ACCD.

·        Provide continual policy and bylaw development, refinement, and amendment.

·        Provide monthly updates of programs, projects, and activities, and quarterly financial updates to the Board of Directors.

·        Provide the Board with all information necessary for it to function properly and make informed decisions.

4. Community and legislative relations; communications

·        Ensure solid communications and marketing of ACEDC programs and services using all available channels.

·        Establish and maintain sound working relationships and cooperative arrangements with community organizations, non-profits, and municipalities, and local, regional, state, and federal partners.

·        Participate in appropriate community planning discussions and projects.

·        Represent ACEDC to agencies, organizations, legislators, and the community.

·        Participate in the Regional Development Corporations of Vermont, the statewide RDC association.

·        Work to educate political leaders at the local, regional, state, and federal levels on matters adversely affecting the business climate, effects of potential legislation on businesses, and advocate for specific businesses when appropriate.

5. Loan funds

·        Meet with potential loan applicants.

·        Solicit and review loan applications.

·        Prepare credit analyses and loan packages for ACEDC Loan Committee.

·        Coordinate with other lenders on loan structuring.

·        Work with ACEDC’s attorney to create loan documentation and handle loan closings.

·        Ensure timely collection of loan payments and enforce ACEDC loan policies.

·        Ensure accurate reporting and compliance of loan programs.

·        Prepare annual budgets for each USDA IRP (Intermediary Relending Program) loan fund.

·        Ensure that there are sufficient funds available for future loan requests.

6. Grants research, application, administration

·        Ensure that the organization conducts research, understands, and catalogues the universe of appropriate grants available for economic and community development and business growth.

·        Ensure the organization matches available grants to regional projects, including those that would provide capacity funding for ACEDC.

·        Ensure the organization provides appropriate assistance to businesses, non-profits, and municipalities to apply for grants.

·        Ensure the organization has the capacity to provide internal grant administration and compliance and to offer grant administration assistance.

QUALIFICATIONS:

1.      Bachelor’s degree in business, economics, community planning, public administration or related field; graduate degree preferred.

2.      Seven years of progressively responsible experience in economic development and at least three years in a supervisory or management capacity, or equivalent combination of education and experience in a similar organization.

SKILLS:

1.      Excellent relationship building skills with an ability to communicate and work effectively with a variety of stakeholders.

2.      Outstanding presentation and communication skills.

3.      Ability to set clear priorities and to delegate.

4.      Keen analytic, organization, and problem-solving skills which support and enable sound decision-making.

5.      Familiarity with organizational budgeting, financial management, fiscal controls, and compliance.

6.      Familiarity with lending practices and business financial and credit analysis.

7.      Familiarity with IT systems and technology needed to operate a non-profit organization, including security systems.   

8.      Familiarity with marketing and communications required to operate a non-profit organization.

9.      Preferred: Politically astute; familiarity with local, regional, state, and federal political systems and players.

10.  Preferred: Familiarity with Addison County, including the business community, key sectors, community leaders, and key stakeholders.