Loudoun’s Strong Economy Also Helps Save Taxpayer Dollars

By June 4, 2018Blog, Featured

Brian Tinsman
Digital Properties Manager

 

It’s no secret that a strong local economy builds the tax base, which helps pay for schools, highways and other public services. But did you know that economic strength also helps save the county money?

For more than a decade, Loudoun County has maintained a AAA financial rating from the nation’s top bond rating agencies: Moody’s, Fitch and S&P Global.

Bonds are purchased to finance Loudoun’s unprecedented need for school growth, as well as to relieve traffic congestion in the county’s important transit arteries.

This AAA rating is important to taxpayers (both businesses and residents) because it helps the county get the best possible interest rates to finance capital projects, saving millions of dollars in interest.

At the end of May, all three bond rating agencies analyzed the county, looking at key metrics and touring our community. Here’s what they found:

  • Moody’s highlighted Loudoun’s “sizeable and diverse tax base with strong long-term growth potential, above-average wealth levels, consistently solid financial performance, and a manageable debt burden.”
  • S&P Global highlighted Loudoun’s “very strong economy, budgetary performance and flexibility, and very strong management.”
  • Fitch said the rating reflects Loudoun’s “exceptionally strong operating performance, supported by solid revenue growth and solid expenditure flexibility.”

“Loudoun continues to lead the way in job growth, strong budget practices and smart investment,” Dulles District Supervisor Matt Letourneau said in a press release. “In particular, the agencies recognized the tremendous opportunities around our Metro stations and the strength of our Metro tax district, which remains highly rated.”

With the 2018 fiscal year drawing to a close in June, Loudoun is again enjoying another record-breaking year of economic development.

More than $6 billion in new commercial investment helps to fund projects that improve the lives of county residents, as well as keep the costs down when a project is financed.

That’s #LoudounPossible success.

 

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.