By John Patterson
Loudoun’s Department of Economic Development released its annual report Thursday, unveiling its record-breaking content at Selma Plantation. To summarize: The county economy grew. A lot.
According to the report, the county recruited or retained 104 businesses, which invested $3.3 billion into Loudoun last year. The investment set a new record for the county economy, as county leaders celebrated a hat-trick of three record-breaking years in a row. With the $1.6 billion in fiscal year 2015 and the $2.3 billion in FY2016, the past three fiscal years brought up to $7.2 billion flowing in the county over the period. This growth dramatically outpaces national averages, and is the highest of any county of Loudoun’s size.
These businesses brought 3,000 new jobs with them in growing industries like aviation, cybersecurity, agriculture, and pharmaceuticals. County leaders celebrated this economic diversity and poked fun at Loudoun’s “Double D’s:” data and drinking, referencing its abundance of data centers, wineries and breweries.
“In what other county can we be the data center capital of the world but then have the incredible beauty that we see in here … of the rich history we have in this county” Supervisor Suzanne Volpe (R-Algonkian) said.
“Loudoun has a mix of qualities that make it the perfect place for many different types of companies to thrive,” Buddy Rizer, executive director of the department, stated. “Loudoun is the heart of D.C.’s tech corridor, and is a great place for employees to raise their families in a safe, healthy environment. Now, with Metro less than three years away, more and more companies are interested in calling Loudoun home.”
John Patterson is an intern with Loudoun Now. He is studying English and economics at the University of Virginia.