Annual Report Underscores Loudoun’s Economic Resilience Through Turbulent 2020

Loudoun Economic Development released a special 2020 calendar year annual report on Wednesday, detailing the economic impacts of COVID-19 and how the county responded to unprecedented challenges.

“I have said for years that Loudoun is the greatest county in the nation, and we showed what that means in 2020. I’m very proud of the county’s overall response, especially our efforts in the business community, and it’s clear that these results don’t happen by accident,” Loudoun County Board of Supervisors Chair at Large Phyllis Randall said. “As we move in 2021, our focus remains on a sustainable, equitable recovery for all Loudoun residents and businesses.”

The annual report spotlighted the county’s comprehensive COVID-19 business services, including:

  • Personal outreach to more than 4,000 Loudoun businesses in the opening weeks of the crisis, to better understand the needs and best allocation of resources.
  • The COVID-19 Business Interruption Fund and Outdoor Seating Grants, which combined for more than $12 million of financial support for nearly 2,000 businesses.
  • The Loudoun Is Ready business health pledge and Take Loudoun Home marketing campaign, both collaborative efforts with Visit Loudoun and the Loudoun Chamber of Commerce to support businesses.
  • The Loudoun Jobs Portal, a new tool for jobseekers that aggregates employment opportunities at Loudoun businesses from 10,000 public job boards. The department has since launched a more comprehensive suite of workforce services under its Work In Loudoun initiative.
  • The Loudoun Made Loudoun Grown Marketplace, an e-commerce platform provided at no cost to Loudoun farmers and artisans, for the purpose of selling to local consumers. This program received $270,000 in grants from the USDA and Commonwealth of Virginia to enhance its effectiveness.
  • Creating the Data Center Task Force and providing a coordinated point of contact for more than 350 businesses in Data Center Alley, thus ensuring an efficient, collaborative response.

“The Board of Supervisors and Loudoun Economic Development took swift and decisive action when the COVID-19 pandemic hit to protect and preserve our business community,” said Supervisor Matt Letourneau (Dulles), Chairman of the Board’s Finance, Government Operations and Economic Development Committee. “This quick pivot from business development to business survival helped avoid some of the worst impacts that other areas have experienced, and now we’re seeing signs of optimism, such as a drop in our unemployment rate close to pre-pandemic levels. As the economic recovery continues, Loudoun will be well positioned to continue to lead the region in economic growth.”

“Over the past 15 years, Loudoun has built a solid economic base that has served us well during this time of uncertainty. It’s a credit to the Board of Supervisors to have both the foresight for economic stability, as well as an ongoing commitment to decisive leadership. Our economy is built on diverse industries, from the thriving rural enterprises in Western Loudoun to the successful commercial companies throughout the Dulles Technology Corridor,” Executive Director Buddy Rizer explained.

“Remarkably, our #LoudounPossible economy continued to grow this year, which is a testament to our business leaders and our talented workforce.”

The department’s metrics were highlighted by:

  • $6.78 billion in new commercial investment announced;
  • 4.9 million square feet of commercial real estate;
  • 3,515 new jobs created and existing jobs retained;
  • 30 Fast-Track Commercial Incentive Program applications.

For more information, please visit Biz.Loudoun.Gov/AnnualReport.

 

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