The Economic Growth Division’s mission is to accelerate the growth of New Jersey’s economy by implementing initiatives that enhance the State’s long-term economic competitiveness and establish New Jersey as an innovation leader within high job growth strategic sectors, including life sciences and technology, transportation and logistics, clean energy, film, digital media, offshore wind, financial services and advanced manufacturing. The Economic Growth Products department delivers unique programs to create and sustain job growth in businesses within each of these key sectors. The team that delivers these products are focused on effective execution combined with a positive market impact.
The Product Officer serves as an advisor on specific tax credit products. In addition, a Product Officer maintains a general working knowledge of other NJEDA Programs and Departments in order to support, promote, and manage NJEDA’s offerings effectively to manage external and internal relationships.
This job’s responsibilities include but not limited to, the NJEDA’s Emerge, Aspire, ERG and/or Community Anchor programs. This would include being responsible for business development, relationship management, business process, application review with detail and thorough analysis as well as data entry into CRM system. The Officer will coordinate and collaborate their efforts with NJEDA Industry Sector Leads, other State agencies and partners at the local and county level governments to grow the number and volume of investment activity in the State through providing information and access to the respective programs with the ultimate goal of creating economic growth for the industries in the state of New Jersey.
Essential Duties and Responsibilities
- Serves as an EDA advisor on opportunities available to companies that intend to make capital investments and create job opportunities within New Jersey.
- Works with internal and external stakeholders to present the values and requirements of the Emerge, Aspire, ERG and/or Community Anchor Programs.
- Comprehensive assessment and evaluation of companies to determine eligibility for the Emerge, Aspire, ERG and/or Community Anchor Programs.
- Responsible for creating and maintaining deal flow for a pipeline of opportunities.
- Leads the detailed qualification and eligibility process to advance applications to the next stages such as Operations/Underwriting. This will include ensuring all required documentation and information are a part of the full application package are submitted for the due diligence process. Excepted activities include but are not limited to:
- Establishing a relationship and eligibility of the applicant.
- Managing customer expectations of the timing and process for review.
- Obtain and review of client applications and scope of projects.
- Review of qualifications under the the Emerge, Aspire, ERG and/or Community Anchor programs’ parameters and requirements.
- Collection and review of all due diligence checklist items, highlighting any areas of risk and/or gaps with submissions.
- Leads customer communication – both positive and negative.
- Documenting all interactions such as meetings notes, phone calls, and emails into CRM.
- Maintains deep industry expertise for EDA through project-based research and analysis; these efforts may include tracking industry trends at the state, regional, and national level, identifying which key industry issues state government could help to resolve, providing industry and policy updates to internal government stakeholders
- Works with the NJEDA colleagues to manage relationships with key industry stakeholders and acts as an industry-development advocate; these efforts may include representing the Authority at industry events, conducting company research, and acting as a company liaison within EDA.
- Collaborates with NJEDA’s marketing and communications teams to assure web site is accurate, programs are accurately marketed, success stories are shared, and at no less than an annual basis program outcome are reported to Executive Committee, board and program enhancements/efficiencies and improvements are recommended.
- Facilitates the policy and product development for programs associated with financing innovation companies within the EDA and as the voice of the EDA for state projects within the niche market. Works with external stakeholders as technical and financial advisors to create and implement balanced solutions.
- Leads independent work and small project teams to execute sector strategies.
- Advises Authority leadership, Governor’s Office members, and other sister agency members on policy and technical matters related to program topics and initiatives.
- Represents the Authority at industry and governmental events and meetings, including presenting the various programs and services.
- Participates in setting goals and objectives and assesses progress against individual plans to provide input on semiannual and annual reviews.
- Demonstrates a leadership and ownership mindset within the Economic Growth Products including suggesting new ideas for how to improve the division.
- Collaborates in the development and achievement of the Economic Growth Products department goals; reviews and evaluates own performance against key metrics.
- Develops best practices which can be institutionalize across multiple programs; defines and implements needed systems and policies.
- Participates in the development and then advocates for other Economic Growth Products strategic initiatives as necessary.
- Performs duties to the highest standards of ethics and professionalism.
- Promotes teamwork and communication to encourage an interactive, cooperative, collaborative, and customer- focused work environment among division, NJEDA staff, and external customers.
- Must complete annual and semi-annual self-assessment as required.
- Performs other duties and special projects, as assigned.
Required Skills and Abilities
Problem solving and communication
- Strong creative and analytical problem solving ability, including structuring issues, framing solutions, and executing complex analyses with limited errors and oversight
- Ability to synthesize findings and propose actionable solutions
- Strong written (presentation, memos, and emails) and oral presentation skills
- Ability to work on small project teams tackling complex and challenging work
- Ability to communicate effectively both verbally and in writing; proficient in grammar, spelling and editing; and foster communications with business professionals and EDA staff
Ability to build industry expertise
- Best-in-Authority ability to engage in the technical details of the Officer’s specific Program responsibility.
- Ability to identify programs and initiatives via conversations with key stakeholders and monitor successful programs from other states and countries.
- Ability to engage credibly and thoughtfully in broader economic development conversations with industry and government leaders.
- Deep knowledge and understanding of economic development, sector development approaches, community development, and public policy and governance related to the Officer’s specific Program responsibility.
- Deep understanding of EDA’s existing programs and services.
- Demonstrated ability to self-motivate and self-lead own work planning and execution with a strong results orientation
- Ability to prioritize workload, must be highly organized, detail-oriented, handle various tasks simultaneously and work independently within limited time constraints with little supervision
- Exceptional history of strong performance and consistent high-quality delivery on commitments
- Ability to adapt to changes in work environment and manage competing demands
- Ability to build strong relationships and contacts within the industry
- Track record of consistently meeting private sector customer service-level expectations
- Must be able to maintain confidentiality and deal effectively and diplomatically with business professionals and EDA staff
- History of sound decision making and ability to understand implications of decisions.
- Demonstrated interpersonal skills, including ability to influence and engage team leaders and peers.
- Demonstrates respectful behavior and promotes teamwork and communication to encourage an interactive, cooperative, collaborative and customer focused work environment among division, EDA staff and external customers.
- Strong ethical orientation, including exercising sound financial stewardship
- Commitment to and passion for EDA’s mission and inspires a sense of shared purpose
- Proficiency in Microsoft Office Suite and the ability to learn new software packages
Education and Experience Requirements
- Bachelor’s Degree, preferably in a relevant field such as business, finance, or policy.
- Minimum 5 years of industry-facing experience in a government agency or related field.
- Experience in a fast-paced, project-based professional services environment that emphasizes teamwork, problem solving, and communication (e.g., management consulting, banking, legal field, large-scale project management, etc.)
- Experience in program development, public policy development, corporate finance, and financial analysis.
Advanced degree or industry specific certification may be substituted for 1 year of experience