The average yearly salary for Economic Development in Madison, Minnesota is $67,203. If you are just beginning to work a new job as a Economic Development in Madison, Minnesota, you could earn a starting pay rate of $55,344 annually. As is true for most jobs and careers, you can expect your hourly pay rate or salary to increase as you gain experience and the longer you are employed with the same employer. In Madison you could potentially make an average income of around $79,063 after several years on the job with increased wages. When pursuing your career of choice, you should compare salaries of similar professions and factor in variables such as health benefits and potential for raises and promotions over time.