Growth Doesn’t Have to Come With Growing Pains

By February 9, 2017 Blog, Featured, Small Biz

Loudoun County continues to set the standard for population growth, job growth and overall quality of life.

A recent report shows that 94 percent of Loudoun residents surveyed responded that the overall quality of life in the county is “excellent” or “good.” About 98 percent of survey respondents said they feel “safe” or “very safe” in their neighborhoods.

These survey responses match the statistics, which list Loudoun as the happiest county in the U.S., the healthiest county in Virginia, and the safest county in the greater D.C. region.

All of this has been achieved while managing the infrastructure needs for one of the fastest growing populations in the country.

In 1990, the population of the county was 86,129. With the rise of the Dulles Technology Corridor and diversification of industries, that number nearly quadrupled to 383,949 in 2017.

Between 2010 and 2016, Loudoun County added 73,016 residents, a rate of nearly 34 residents per day, and a 23.4 percent increase in total population. This growth leads Virginia counties by a wide margin, and is more than five times the national average of 4.1 percent growth.

The good news is that once people move to Loudoun County, they generally stay here. Seven in 10 resident survey respondents have lived in Loudoun County for at least 10 years, an increase from 51.8 percent when residents were surveyed in 2012. Six in 10 respondents plan to still live in the county for at least another 10 years.

More than ever, new resident respondents in Loudoun County are moving from outside of the D.C. metro region (50.4 percent), with 35.6 percent choosing to relocate from Fairfax County.

So what is the draw to Loudoun County? One reason is job creation that ranks in the top-three in the U.S. Here is a graphic depicting annual job growth as of June 2016:

Survey respondents indicate that 89.3 percent of Loudoun households have at least one member in the workforce, and 45.5 percent have two or more incomes. This leads to a 3.2 percent unemployment rate, which is well below the national average of 4.6 percent.

Loudoun County has led the U.S. in median household income for nearly a decade, and there is good reason for that: the intersection of high-paying jobs and a highly-educated workforce. Almost 90 percent of respondents have attended at least some college, with two-thirds having earned a four-year degree. Thirty percent have also earned a postgraduate degree.

While infrastructure upgrades are still a top concern among respondents, employers are taking innovative steps to ensure that workers are happy and productive. Among households with an employed member, more than one-quarter (27.5%) of survey respondents said that at least one person in their household telecommutes.

The workforce is also finding the entrepreneurial spirit, with six percent reporting that at least one person in their household works in a home-based business. A full 13 percent of households that responded have at least one person that is self-employed.

Loudoun County Economic Development offers a wealth of resources and partners to help Loudoun residents get their businesses going and growing. If you’re interested in learning more, go to LoudounSmallBiz.org and/or save the date for Loudoun Small Business Week 2017.

 

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