Loudoun Business Report Shows Billions In New Investment

LOUDOUN COUNTY, VA — The future looks bright for business in Loudoun, according to the annual report published by the county's Department of Economic Development. The report highlighted the county's response to the COVID-19 pandemic and future investments in the area's economy.

The annual report showcased the county's COVID-19 business services, in addition to growth in commercial real estate and investment.

Buddy Rizer is the executive director for the Department of Economic Development. "Over the past 15 years, Loudoun has built a solid economic base that has served us well during this time of uncertainty," he wrote in the annual report. "Remarkably, our #LoudounPossible economy continued to grow this year, which is a testament to our business leaders and our talented workforce."

According to the annual report, businesses in Loudoun County announced more than 3,000 new jobs. The report also showed more than $6 billion in announced commercial investments and 4.9 million square feet of commercial real estate.

"I have said for years that Loudoun is the greatest county in the nation, and we showed what that means in 2020," said Loudoun County Board of Supervisors Chair-at-Large Phyllis Randall. "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."

The annual report also praised the county's business programs in response to the pandemic. The county's COVID-19 Business Fund and outdoor grants combined to give more than $12 million to local businesses.

Supervisor Matt Letourneau represents Dulles on the Loudoun County Board of Supervisors. He is also the 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," he said in a new release. "Now we’re seeing signs of optimism, such as a drop in our unemployment rate close to pre-pandemic levels."

Though Loudoun businesses have begun to rebound from the pandemic, the human toll of the virus is irreplaceable. According to the Virginia Department of Health, 205 people in Loudoun County have died due to the COVID-19.