Sample interview questions: Can you describe a situation where you had to negotiate incentives or tax breaks with businesses to attract investment?
Sample answer:
- Research and Prepare:
Before initiating negotiations, research the target businesses, their industry, and the local economic landscape to gain insights into their interests, concerns, and negotiation style.
- Foster a Positive Relationship:
Establish a rapport with the business representatives, creating a collaborative atmosphere that encourages open communication and productive discussions.
- Understand Their Objectives:
Listen actively to understand their specific needs, desires, and concerns. This empathy helps craft incentives that align with their objectives and make your offers more compelling.
- Assess Their Feasibility:
Evaluate the feasibility and affordability of potential incentives within the constraints of your budget and economic development policies. Ensure that the benefits outweigh the costs to create a win-win situation.
- Outline a Menu of Incentives:
Develop a range of incentive options, including tax breaks, financial assistance, infrastructure improvements, training programs, and regulatory flexibility, to accommodate diverse business needs.
- Package the Incentives:
Structure the incentives as a comprehensive package, showcasing the cumulative benefits and demonstrating how they… Read full answer
Source: https://hireabo.com/job/7_4_31/Economic%20Development%20Specialist