Loudoun’s Global Reputation Growing, Report Shows
The Loudoun County Department of Economic Development has released its fiscal year 2014 annual report, which shows that companies invested almost $250 million to move to or expand in Loudoun during the 12-month period that ended June 30, 2014. Added to the amount of commercial investment in Loudoun during FY2013 and FY2012, the last three years have seen almost a billion dollars of commercial development in Loudoun County, Virginia.
“Without a doubt, Loudoun is one of the biggest economic development success stories in America,” said Economic Development Director Buddy Rizer.
The department was created 35 years ago, when the number of livestock rivaled the county’s human population. By 2012, CNNMoney had named Loudoun the #1 county for job growth in America. This year, Inc. magazine heralded 22 Loudoun companies as being among the fastest-growing in the nation.
According to the report, Loudoun County is now becoming known around the world for its domination in two industries: data centers and wineries. Every day, almost 70 percent of the world’s Internet traffic passes through Loudoun data centers like CyrusOne, which added 280,000 square feet to its Loudoun campus in FY14. Loudoun’s 56 data centers bring an estimated $60 million in revenue to the county each year.
The number of Loudoun farm wineries is fast approaching the number of Loudoun data centers. Eight new wineries opened in FY14, bringing the total to 42. Loudoun’s wine industry will become even more of a powerhouse if a Viticulture and Enology Center is developed. In FY14 the department began exploring the idea of creating a VEEC by partnering on a feasibility study, which was partially funded by a state grant.
I.T. and agriculture weren’t the only two Loudoun industries that expanded in FY14. “We had growth in every sector that we target for business development, including the international sector,” Rizer said, noting new foreign-owned companies from Germany, France and the U.K that opened here in the last year.
More details about Loudoun’s recent economic successes are available in the annual report, which is online here. Interested business owners can call 1-(800)-LOUDOUN for information about starting or growing a business in Loudoun.