Loudoun County Completes Retail, Entertainment and Culture Cluster Study
Study took an in-depth look at Loudoun’s retail landscape and growth opportunities.
The Loudoun County Department of Economic Development is pleased to announce the completion of its Retail, Entertainment and Culture industry cluster study, an initiative aimed at providing guidance on how the county can continue to create sustained vibrancy in the cluster. The study was conducted by Bethesda-based Streetsense. The design and strategy firm spent three months researching the Loudoun market east of Route 15, and the resulting 291-page report is now available online.
The study focused on nine retail submarkets east of Route 15. The goal of the study was to identify demographic and market trends that will likely affect the county’s current and future retail, entertainment, and culture offerings. The study also examined current retail in the area, such as sit-down restaurants, clothing stores and movie theaters, and evaluated the strengths and weaknesses of the county’s existing mix of retail businesses. Finally, the study outlined strategies to attract retail businesses, support small and locally-owned retail businesses, and leverage the county’s mixed-use centers to attract additional businesses.
“We plan to use the study’s findings to create a sensible, long-term strategy that supports economic development in the emerging REC cluster for our county,” said the Department’s Executive Director Buddy Rizer.
Loudoun retail has grown by more than eight million square feet over the last 15 years as the county has become an increasingly attractive consumer market. With the highest household income in the U.S. and one of the fastest-growing populations in the nation, retailers now make up the largest percentage of the county’s 10,000 businesses.
“We’ve worked very closely with Loudoun County on multiple private development projects, but this REC Cluster Study was a great opportunity for us to look at the area as a whole,” said Streetsense Director of Research and Analysis Heather Arnold. “We’re pleased to have worked with such a forward-thinking economic development office, and think with the right strategy the area is poised for strong retail growth over the next several years.”
Executives who want more information on Loudoun’s REC market can email Miguel Salinas, assistant director of the department and project manager for the study, or reach him by calling 1-(800)-LOUDOUN.