Economic Development Interview Questions & Answers

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Economic Development Interview Questions & Answers

Economic development is the procedure by which a nation progresses the financial, political, and social well-being of its individuals. Want to shift your career in the Economic Development? Looking for the various positions and what qualification if you have can apply for those jobs? Then we in Wisdomjobs have provided you with everything that you need to clear the interview. You can apply to government sectors for this kind of jobs. Some common job roles are Senior Associate Economic Development, Vice President for Research and Economic Development and International Programs, Research Associate - Urban Economy and Employment, Economic Development Officer, Certification Analyst Asia Pacific (m/f), Human Resources (HR) internship and there are many other roles too. For more details on the Economic Development Interview Questions and Answers, Economic Development jobs feel free to visit our jobs site.

Economic Development Interview Questions

Economic Development Interview Questions
    1. Question 1. Does The City Have Any Property For Sale (including Tax-acquired Property)?

      Answer :

      Sale of tax-acquired property is handled by our Economic Development Department.  Other properties may be offered for sale by our Finance or Community Development Departments. 

    2. Question 2. What Is A Foreign Trade Zone, And What Does This Mean For Auburn?

      Answer :

      A Foreign Trade Zone ("FTZ") is an area adjacent to a U.S. Customs Service port of entry, but which is designated as outside of Customs territory.  This allows FTZ users to defer or avoid paying duties and tarriffs on imported goods.  The FTZ around the Lewiston-Auburn Municipal Airport and Intermodal Facility provides businesses in Auburn with a significant competitive advantage.

    3. Question 3. I Am Interesting In Starting A New Business In Auburn, Or I Am Thinking About Re-locating My Business To Auburn. How Can The City Help?

      Answer :

      The Economic Development Department has a wide range of tools at their disposal to assist new and existing businesses succeed in Auburn.  We work with businesses on site location, permitting, financing, and other areas of concern. 

    4. Question 4. What Is Edb And How Does It Assist Investors?

      Answer :

      The Economic Development Board (EDB) is a single-point of contact for investments in the state of Andhra Pradesh. It is also the first point of contact for single-window facilitation and guides investors for seamless movement of investments.

      The EDB assists investors in the following ways

      • It liaisons with relevant departments, agencies and bodies in the centre and state for all matters relevant to the investor right from expediting approvals, securing infrastructural facilities like land, factory visits, power, water and telecommunication.
      • It handholds and assists investors in obtaining necessary approvals for projects until they are operational
      • It supports existing companies find partners, seek new markets to diversify and help capacity expansion
      • It also facilitates one-on-one meetings with officials from relevant ministries, departments, agencies and boards

    5. Question 5. What Are The Types Of Applications Evaluated By Edb?

      Answer :

      The Economic Development Board is a single-point of contact for any investments in the state of Andhra Pradesh.

      The EDB helps investors in the following type of applications

      • Pre-establishment applications including registration, approvals, incentives and licenses
      • Pre-operation including allotment, grievance redressals and verification
      • Other approvals

    6. Question 6. What Are The Advantages Of Going Through Edb?

      Answer :

      The Economic Development Board will streamline the tedious and time-consuming process of investment facilitation by creating an investor friendly environment and improve the ease of doing business in the state of Andhra Pradesh.

      The EDB liaisons with respective ministries, departments and bodies for registrations, approvals, procedures, licences & allotment on behalf of the investor thus putting the onus of regulatory framework on the EDB.

      The EDB also provides advisory on implementing projects in the state of Andhra Pradesh until they are operational.

    7. Question 7. Do I Need To Approach Any Other Department To Complete My Approval Process?

      Answer :

      Once you approach the EDB, there is no need to approach any department for taking any approvals.

    8. Question 8. Does Edb Help Me Find Partners For Sourcing Or Joint Ventures In The State Of Andhra Pradesh?

      Answer :

      Yes.

    9. Question 9. Where Can I Find The Details Of Suitable Land Parcels For Setting Up An Industry?

      Answer :

      In 'Other links’ tab the information on suitable land parcels is available. The investor can find details on Andhra Pradesh Industrial Infrastructure Corporation (APIIC) estates, Private Industrial estates and Government land-banks.

    10. Question 10. Where Can I Find Sector Specific Policies, If I Want More Information, Whom Do I Get In Touch With?

      Answer :

      The Economic Development Board has sector-specific consultants with vast experience to facilitate investments in different sectors. The information on sector specific policies is available on our website.

    11. Question 11. What Is Economic Development?

      Answer :

      Economic Development usually takes three forms:

      • Business Attraction
      • Business Retention and Expansion
      • Business Creation

      All three of the forms seek to create primary jobs that pay more than the average wage, increase the amount of income coming into the community from outside our market area, and create greater capital investment in our community. The goal is to attract a diverse group of industries and businesses to help insulate the community from economic shock in case specific sectors should fall on challenges.

      The City of Ingleside’s Economic Development Department’s purpose is to synergize and coordinate the Economic Development activities and programs aimed at the City of Ingleside specifically and in a targeted manner.

    12. Question 12. Why Does The City Of Ingleside Focus On Primary Jobs?

      Answer :

      The City’s Economic Development Department is funded through a grant from the Ingleside Development Corporation – the folks who oversee the monies collected through the 4B Sales Tax. This tax was designed to bring higher paying primary jobs and industries into communities and has very specific rules and guidelines for it’s usage and applications. We are governed by the guidelines found in the State of Texas Attorney General’s Handbook on Economic Development and we must adhere to Article 5190.6, Development Corporation Act of 1979.

    13. Question 13. What Is The Economic Impact Of Forestry In Texas?

      Answer :

      The forest sector includes all economic activities that depend on the production of goods and services from forests. It is important to the Texas economy, especially in East Texas where most of the state’s commercial forests are located. 

      In 2013 Texas produced:

      • 521.5 million cubic feet of timber 
      • 1.5 billion board feet of lumber
      • 2 billion square feet of structural panels
      • 2 million tons of pulp and paper products
      • Timber stumpage value was $232.6 million
      • Timber stumpage delivered value was $574.6 million

      The Texas forest sector also produces many value-added forest products such as treated wood products, millwork, wood kitchen cabinets, prefabricated wood buildings, wood furniture and various paper products (Harvest Trends 2013 (PDF, 6MB)). 

      In 2012, the Texas forest sector:

      • produced industry outputs worth $17.8 billion including $5.7 billion in value-added products
      • employed 59,406 workers
      • paid $3.8 billion in wages, salaries and benefits

      The annual total impact to the Texas economy in 2012 from the forest sector was $30.3 billion, which included value-added products worth $12.9 billion. In the same year, the Texas forest sector generated 130,609 jobs and created $7.9 billion in labor income (Economic Impact of the Texas Forest Sector, 2012 (PDF, 3MB)). 

    14. Question 14. Who Owns Texas Forests?

      Answer :

      In East Texas almost 92 percent of the timberland is privately owned. Family forest landowners are by far the largest group of private owners, accounting for about 54 percent of all timberland.

      In the past two decades most timberland held by corporations that own wood processing facilities has been sold to corporations that do not own wood processing facilities, such as Timberland Investment Management Organizations and Real Estate Investment Trusts. These corporations own about 25 percent of timberland in East Texas. 

      Other private ownership classes (i.e., nonindustrial corporate excluding TIMOs and REITs, unincorporated, Native American and nongovernmental organizations) account for about 13 percent of all timberland. Slightly more than 8 percent of timberland is publicly owned.

    15. Question 15. What Are Some Economic Development Opportunities In East Texas?

      Answer :

      The 2008 Texas forest inventory showed increased volume and productivity of timberlands in Texas. In the southeastern part of the state, with the closing of several plywood and paper mills, there were excess supplies of both softwood and hardwood. 

      Preliminary analyses showed the existence of timber sources for additional wood conversion facilities in southeast Texas, such as a small pine sawmill, a pine OSB mill and a hardwood sawmill. You may contact us for more information on this topic.

    16. Question 16. What Is Woody Biomass And Where Does It Originate?

      Answer :

      Woody biomass is wood waste. It is produced when a forest is harvested or when trees are processed at a mill. While most wood in a logging operation is used, some wood remains behind in the form of logging residue such as small or cull trees and unused tree parts like tops and limbs. Young stands of small trees too small to be turned into a product may be thinned to improve health and vigor of the remaining trees, producing wood waste in the process. Most of the wood delivered to mills is used in making products, but there is usually some amount that does not make its way into the final product. Mill residue is a term applied to that material, and sawdust, chips, shavings and bark are typical forms.

    17. Question 17. How Much Woody Biomass Is In East Texas?

      Answer :

      East Texas has substantial amounts of biomass in the form of logging and mill residues. A total of 2.7 million tons of logging residue was generated in 2013: 66 percent were softwood and 34 percent were hardwood. 

      There were a total of 5.9 million tons of mill residue produced in East Texas in 2013: 83 percent were softwood and 17 percent were hardwood. Chips accounted for 49 percent of the total mill residue, followed by bark at 32 percent. Sawdust and shavings accounted for 13 percent and 6 percent, respectively, of the total mill residue produced. Except for stumps, all other biomass from logging and mill residue was available for energy production or chemical extraction.

    18. Question 18. Is There Land Available? Is There A Building Available?

      Answer :

      For vacant land, contact David Ebersole at 216.664.2204 as well as for information on the City of Cleveland’s Industrial and Commercial Land Bank. For available buildings, a commercial broker or real estate professional can help you.

    19. Question 19. What Environmental Risk Do I Have When Purchasing An Industrial Or Commercial Property? How Can The City Help? What Should I Do To Protect Myself?

      Answer :

      The City does not make recommendations for or against the purchase of any property. The City recommends that a prospective buyer seek advice from an experienced environmental consultant and an attorney knowledgeable in environmental liability issues.

    20. Question 20. What Funding Is Available For Businesses Looking To Expand In Cleveland?

      Answer :

      The Vacant Property Initiative (VPI) can be used to expand a business to an adjacent building or property if it has been at least 40% vacant for the last 2 years or longer. Job creation is a required outcome for this program. For parking lots, expansions only are eligible for the “Local Parking Needs Program.”

    21. Question 21. What Are The Requirements For Using City Funds?

      Answer :

      There are two forms that the City will send you for completion after the funds have been disbursed:

      • Income Verification Forms- to be completed by new employees when they are hired
      • Annual Job Creation Report- to be completed, signed and submitted by the business

      Information from these forms is used in the City’s annual reports. Therefore, the business must send the signed originals to the Department of Economic Development (601 Lakeside Ave, Rm. 210, Cleveland, OH 44114).

      These forms must be submitted by December 15th so the City has time to review them before the end of the year. When the business has reached the job creation figures in the loan agreement, a staff person from the Department of Economic Development will visit the business to complete a Final Job Creation Report.

      The project facilities must also be in compliance with the requirements of the Americans With Disabilities Act of 1990, as amended. The general contractor should be made aware of this early on in planning the design and construction. In addition, the project must comply with MBE/FBE/SBE regulations on construction that exceeds $10,000. Construction projects where City assistance exceeds $100,000 must hire 20% Cleveland residents for the project.

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