Introduction
Inward investment officers help to strengthen their local
economies and increase local job opportunities by encouraging new
and existing businesses to open new outlets and grow their
operations in an area. Inward investment officers have a
number of roles including marketing their region/town; public
relations/exhibitions; being a property agent and land
valuation.
Work Environment
Although inward investment officers have an office base, they
spend a lot of time out of the office. They go on site
visits, and accompany potential new investors on tours of possible
sites for their business.
Their usual working hours are 37 per week, but there can be a
good deal of out of hours working times as visits are arranged to
suit clients, who may be visiting from overseas or long
distances.
Daily Activities
Inward investment officers may be involved in a wide range of
tasks:
- conducting market research on opportunities to develop
industrial initiatives for attracting new companies into their
area;
- meeting local businesses and finding out their needs and what
would particularly help them to expand;
- producing marketing and promotional materials for their region
or town, to attract new businesses into it;
- keeping abreast of the local property market, to keep
up-to-date with property and sites that have good potential for
industrial or commercial developments;
- arranging regional and site visits, for potential new
investors/employers in the area;
- offering advice and guidance to potential investors on
information, research, funding, other agency support and business
planning;
- preparing reports and bids for national and international
funding;
- managing sizeable budgets.
Skills & Interests
Inward investment officers need to be
- able to lead projects successfully;
- good at managing large budgets;
- good communicators;
- good at solving problems;
- able to inspire confidence in others.
Entry Requirements
Inward investment officers are normally required to have a degree
in a relevant subject, such as economic development, planning or
business studies. They are often encouraged to gain
additional qualifications, such as a postgraduate degree in urban
regeneration or planning, or professional qualifications from
relevant bodies such as the Institute of Economic
Development. Previous experience in a regeneration or
economic development role may also be an advantage.
Future Prospects & Opportunities
Inward investment officers may be able to move into a range of
other areas including business development, economic development,
European funding, regeneration and possibly sports
development. They may also be able to progress into
managerial roles within economic development, regeneration and
planning.
Further Information & Services
Institution of Economic Development www.ied.co.uk
You may find further information about this area of work through
Careers Wales (www.careerswales.com/) or
in your local library, careers office or school careers
library.