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Annual Report FY 2023: Why Loudoun? Let's count the ways.

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Washingtonian Tech Titans77Years with Loudoun Economic Development1717Virginia Business Magazine’s 50 MostInfluencial Virginians66Washington Business Journal Power 10033- buddy rizer“Loudoun County is an amazing economic development success story, doubling our commercial tax base and reducing homeowners tax rate by more than 41 cents over the past 15 years. With our talented workforce, business friendly environment, and the arrival of Metro, our future is even brighter than our past!”-

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A Letter From Our Executive Director Buddy RizerBuddy Rizer, CEcD, EDPExecutive DirectorReecting on an amazing 17 years with Loudoun Economic Development and the tremendous success our department has achieved during that time, it’s difcult to imagine that the amount of growth we’ve realized could be sustained for over a decade, let alone continue to set new records year over year. But, as we close out Fiscal Year 2023 and charge headlong into Fiscal Year 2024, we have once again witnessed business investment numbers never before seen in our County and, in some instances, entire states.Outside of numbers, FY23 introduced us to incredible developments in the County that will continue to make Loudoun a premier destination for businesses to invest in and world-class workforce to relocate to. I think of Connectivity, Access, Expansion, and Diversity as highlights when I count down my favorite stories from this past year. As the stories you’ll read in this Annual Report highlight, our County is so much more than raw data, though we do still remain the Data Center Capital of the World!For our Department’s accomplishments this year, we were recognized in several prestigious publications, including The Washingtonian, Virginia Business Magazine, and the Washington Business Journal, while also receiving awards from the National Association of Counties, Virginia Association of Counties, and Hermes Creative for several of our signature programs. Members of our department also took signicant steps this year toward improving themselves through continuing education. I am especially proud to announce that Colleen Kardasz became a Certied Economic Developer (CEcD) and Dave Diaz was named a certied Entrepreneurship Development Professional (EDP). Both honors are extremely exclusive and showcase the commitment our team has to improving themselves to provide even better service to our community. I am honored and humbled to be part of such an extremely dedicated and talented staff that continues to push the envelope of what modern economic development looks like.Of course, I recognize that these accomplishments, and the path toward continuous and sustainable economic growth in Loudoun County, is a concerted group effort between our staff, community partners, and a forward-thinking Board of Supervisors. Together, we have achieved remarkable results, demonstrating that Loudoun County remains a premier destination for businesses and professionals alike. Looking ahead, we remain committed to our mission of promoting Loudoun County as a tremendous place to Start, Scale, and Soar innovative business ideas. We aim to build upon our successes by fostering inclusivity and sustainability, ensuring that our community remains a thriving and dynamic place to live, work, learn, and play. Now, join me as we count down Loudoun Economic Development’s Top 10 stories of FY23, celebrating the tremendous growth and success of Loudoun’s business community and expressing gratitude to all our stakeholders for their continued support and collaboration.

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10D.C. Metro Expands to LoudounMetro opens four new stops inLoudoun County, including DullesInternational Airport.

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Next Stop: Loudoun VirginiaIn November, business leaders, elected ofcials, and eager commuters gathered to celebrate four new D.C. Metro stops serving Loudoun County, further connecting the region’s workforce with the #LoudounPossible economy.The debut was years in the making, and the impact was immediate, as more than 1 million travelers used the Silver Line to access Dulles International Airport in its rst 10 months of operation. During that time, international travel at Dulles grew 31% year-over-year, making it the fastest-growing international airport in the U.S.The arrival of Metro cements Loudoun as the most highly-connected locale in the United States, if not the world. Already home to Data Center Alley, the world’s largest concentration of data centers through which a large majority of global internet trafc passes, Loudoun is connected to the region, nation, and world like no other.Northern Virginia is one of the fastest-growing tech hubs in the U.S., and employers have access to a world-class workforce, now just a Metro ride away.Loudoun’s access to commuter rail, data, and an international travel hub makes it a prime location for businesses looking to innovate at the edge of data analytics, articial intelligence and machine learning can enjoy direct access and minimal latency. Add a highly educated workforce with plentiful transportation options between the decision makers in Washington D.C. and new transformative mixed-use developments throughout Loudoun and the ability to stay nimble with travel through Dulles Airport, and it’s easy to see why business visionaries are saying, “Next Stop: Loudoun, Virginia!” See the Available Trasit-Oriented Greenfield Sites

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09United Airlines brings jobs to dullesUnited Airlines Announces 1,100 NewJobs at Loudoun’s International Airport.

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At the time of the announcement, United had just completed hiring more than 3,000 positions in the Washington, D.C. region, for a total of more than 6,000 full-time jobs at Dulles. Dulles has been a major operations hub for United Airlines since 1986 and remains one of Loudoun County’s largest employers. It’s no surprise that the announcement came on the heels of D.C. Metro’s highly-anticipated opening of four Silver Line Metro stations serving Loudoun County, including one at Dulles. Metro’s convenience factor is a major reason why Dulles was the fastest-growing international airport in the U.S. during the commuter train’s rst year of operations in Loudoun County.UNITED’S HIRING SPREE CORRESPONDS WITH THE ADDITIONS OF:“We’ve got a big expansion going on at Washington Dulles” Kirby said during an appearance on CNBC’s Squawkbox. “A lot of the growth, particularly in a market like Dulles, is going to occur in the off-peak. Instead of having four banks a day, we’ll have seven.”All of these additions by United showcase the demand for international connectivity at Dulles Airport, and how Loudoun County is tied into the global economy. As of July 2023, Dulles offers nonstop ights to 74 domestic and 61 international destinations and handles more than 300 thousand tons of cargo annually. Whatever your travel needs might be, Dulles and United help Loudoun businesses experience #LoudounPossible success.In December, United Airlines announced another large expansion of its hub at Dulles International Airport, first in the form of 1,100 new jobs to be created in 2023. Opening its $41 million Polaris Lounge at Dulles last OctoberTwo new non-stop international ights to Europe, one each to Berlin and ParisPlans revealed in May to overhaul Concourses C and D at DullesFurther major plans hinted at by United CEO Scott Kirby in May

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08Loudoun Farms Upgrades Online gets a fresh look and enhanced focus.

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Delve deeper into the uniqueness of products under the Loudoun Made, Loudoun Grown banner through the revamped portal of Economic Development proudly unveiled the new-and-improved Loudoun Made, Loudoun Grown Marketplace during FY23. This digital platform seamlessly bridges the gap between our cherished local farmers, artisans, and discerning consumers, presenting a unied online shopping experience.Navigate through an extensive array of Loudoun’s nest offerings, from farm-harvested vegetables and the air of award-winning craft beverages to the craftsmanship of handmade items and the richness of grass-fed meats – shopping locally has never been so convenient. Embracing local is about more than just transactions; it’s an experience. The revamped Marketplace isn’t just a shopping portal; it’s an invitation into the heart of Loudoun’s farming community. With an array of features like a rich recipe library, a video collection introducing our dedicated farmers, and the latest on the bi-annual Loudoun Farm Tour, the site promises to immerse users in the local agricultural narrative.We warmly invite everyone, including residents and visitors, to discover the best of Loudoun Farms. Whether you’re uncovering new gourmet delights from Loudoun or simply reconnecting with a favorite farmer, the online marketplace is your gateway. Welcome to the new-age farm-to-table experience, right at your ngertips.Loudoun MAde Loudoun Grown,

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07LAUNCH LOUDOUNLoudoun introduces a new signatureprogram to support small and minority-owned businesses.

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In celebration of Loudoun Small Business Week, Loudoun Economic Development unveiled a new signature program: Launch Loudoun. This program offers an array of services designed to aid Loudoun entrepreneurs throughout the entire arc of their business journey.From startups to established ventures, every business stands to gain from the comprehensive offerings of Launch Loudoun. Whether it’s large-scale gatherings, specialized programs, partner advisory sessions, or personalized networking opportunities with industry veterans, the program promises value at every touchpoint.Each business is unique, and their needs vary, so it is our mission to provide personal experiences relevant to each situation. This program will help ensure that entrepreneurs have the resources and support they need to achieve long-term #LoudounPossible success. With Launch Loudoun, the County amplies its commitment to economic diversication and growth, setting the stage for a brighter and more prosperous future. It’s a testament to answering “Why Loudoun?” for every budding entrepreneur.At its core, Launch Loudoun is about empowerment. It equips business owners with the necessary tools and resources, irrespective of their current business stage.On Who You Are”After Launch Loudoun’s unveiling, Economic Development hosted its largest educational summit to date at Claude Moore Recreation Center to host acclaimed business coach Marcus Lemonis. Best known as the face of CNBC’s “The Prot” and helming the role of CEO at Camping World, Lemonis’s presence magnetized entrepreneurs not just from Loudoun County but from surrounding areas. The central theme of his discourse revolved around the essence of human connections in business, the signicance of embracing vulnerability as an entrepreneur, and a fresh perspective on business dynamics.The summit, however, wasn’t solely about the keynote. Attendees beneted from an array of workshops, helmed by local mavens, offering insights on nance, marketing, and sales. These sessions not only provided a platform for knowledge sharing but also paved the way for networking, fostering a community of collaborative growth."Don' t Compromise

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v06INNOVATION CHALLENGELoudoun Innovation Challenge fuels pioneering ideas.

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Loudoun Economic Development has always been at the forefront of recognizing and nurturing innovation. In a continuation of this commitment to showcase and invest in fresh ideas, the department hosted the third annual Loudoun Innovation Challenge and rst in-person pitch event. From the impressive pool of 166 applicants, 12 were shortlisted to present their pioneering ideas to an eager audience and a discerning panel from the Loudoun Economic Development Authority. The challenge comprised diverse categories such as Agri-Tech, Information & Communications, Clean Energy, and Highly Specialized Manufacturing.The winners who rose to the top represent some of the brightest innovators and thought leaders in the County who have applied innovation to their industry. The awards were signicant with each category winner receiving $25,000, the highest scoring business applicant being granted $40,000, and a special People’s Choice awarded $10,000. Winners were announced during the halftime show of Loudoun United’s nal home game of the soccer season and all nalists were celebrated in the gametime suites throughout the game. The winners of the 2022 Innovation Challenge were:Overall Winner: Birdie EverythingAgri-Tech: Worm WorksInformation and Communications: GigasheetClean Energy: Fuel & Tire SaversHighly Specialized Manufacturing: FirebotPeople’s Choice: Worm WorksThere’s a lot of energy around entrepreneurship in the County and we embrace the opportunity to cultivate the next generation of #LoudounPossible success stories. “Winning the Loudoun Innovation Challenge is a monumental acknowledgment for Birdie Everything,” says Robyn James, Owner of Birdie Everything. “Our gratitude knows no bounds for everyone who believed in us. Loudoun, with its nurturing environment, has been instrumental in our journey. This investment will propel us further, and we’re beyond ecstatic.”With platforms like the Innovation Challenge, the County paves the way for revolutionary ideas, solidifying its reputation as the epicenter of business growth and innovation. Click to meet the winners

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05Loudoun’s global outreach fosters international business investment.INTERNATIONAL BUSINESS DEVELOPMENT

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Loudoun County continues to garner international attention for its economic success and unparalleled quality of life, making it a go-to partner for Sister City agreements and international businesses looking for a soft landing in the United States.The County not only tops Virginia’s charts in business expansion and purchasing power, but also stands as its safest and fastest-growing locality, while boasting over 25% of local citizens being foreign-born.Beyond its accolades, Loudoun’s unique character is apparent in its vibrant local scenes. From “Data Center Alley” – the world’s largest data center hub – to its rolling farmland dotted with award-winning farm wineries and craft breweries, Loudoun is a mosaic of innovation and tradition.In recent years, Loudoun Economic Development has worked closely with the Board of Supervisors and Loudoun County Public Schools to amplify its unique advantages to a global stage. Strategic Sister Cities and Counties, located in nations around the world, mirror a commitment to excellence, and are each exceptional in their own right. These alliances aren’t just formalities; they represent a commitment to mutual success.FY23 was a big year for international business development, as Loudoun Economic Development led delegations to Africa for the rst time, as well as Uruguay and India. These touchpoints are Loudoun’s introduction to communities, its people and businesses, helping foster relationships that can deliver economic impact for years to come.Loudoun’s vision extends beyond current international relationships as more markets continue to be researched for targeted outreach. The goal is to cultivate even more of these global relationships, emphasizing “benecial exchanges between schools, cultures, business ties, and establishing bonds between citizens and the institutions dedicated to their welfare.”Loudoun Economic Development’s sights are set on creating a global legacy, championing collaborative growth, and answering “Why Loudoun?” on the world stage. Learn more about our Sister Cities

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04ARCOLA CENTER DEVELOPMENT BREAKS GROUNDLoudoun County celebrates expanding ex space.

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In May, St. John Properties joined elected officials and the team at Loudoun Economic Development to celebrate the beginning of construction at its 34-acre Arcola Center business park.Phase 1 of the project will include four buildings, comprising 100,000 square feet of ex/industrial space. Overall, the project is planned to include 10 buildings with 340,000 to 450,000 square feet of space.This type of commercial inventory has been critical to Loudoun’s long run of success, facilitating the growth of highly specialized manufacturing, aviation and transportation, data centers and information technology, as well as a wide range of innovative small businesses.At the time of the groundbreaking ceremony, the County had more than 3 million square feet of ex/industrial space, with a vacancy rate of less than 1%.St. John’s Properties continues to be a national leader in speculative ex space development, regularly delivering more than 1 million square feet per year across all markets. Loudoun County is an area of focus, thanks to its development-friendly environment and strong economy.“We have been active in Loudoun County for more than two decades. In that time, we have delivered more than 20 buildings, which serve the commercial real estate needs of more than 150 companies,” St. John Properties’ Regional Partner Matt Holbrook explained. “This area does not have enough of the ex/R&D product, which we are developing now, to support the local companies that need this type of business to operate and grow their business.”The rst phase of development is expected to deliver $135 million of new investment to Loudoun County. The full realization of the development’s 10-building plans will be contingent on leasing through each phase.

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03Expansions and re-investment in loudoun CountyWith major corporate expansions each year, Loudoun is built for business.

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Throughout FY23, the team at Loudoun Economic Development worked to facilitate 165 business recruitments, expansions and retentions in the County.Cuisine Solutions, a global leader in sous vide products, made a substantial investment in new manufacturing equipment at its Sterling headquarters, and created 150 jobs in the process. The new production line is expected to ll orders for all of Panera Bread’s new line of fried and grilled chicken.Renowned for its innovation, Cuisine Solutions services more than 22,000 restaurants and 6,000 retailers, as well as major airlines and hotels. Its pasteurized sous vide items offer 18 months shelf life frozen, six days when defrosted, and can be oven-nished in minutes. This allows food service and home cooks to save time, simplify the complexity of any supply chain challenges, and is a perfect solution to signicantly reduce waste and labor costs.Those “wins” came across all key sectors and industries, creating a stronger and more inclusive economy for people who live, work, learn and play in Loudoun County.Hanley Energy, Irish-owned global innovators in critical power and energy management solutions, expanded its electrical division in Loudoun County. Hanley has been able to leverage the density of “Data Center Ally” into a thriving and growing business.“Loudoun County is the epicenter of the data center industry. This is a perfect t for Hanley Energy and its vital services that keep this sector growing,” Virginia Governor Glenn Youngkin said. “From establishing its U.S. headquarters and expanding its Hanley Energy Electrical division, the company continues to grow its footprint in the Commonwealth and reinforce our many industry advantages.” The expansion creates hundreds of new high-paying jobs, including electricians and apprentice electricians.CUISINE SOLUTIONS: $30 MILLION, 150 NEW JOBSHANLEY ENERGY: $8 MILLION, 343 NEW JOBSHERE ARE A FEW OF OUR FAVORITE WINS FROM FY2023

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02RIVANA AT INNOVATION STATIONAfter receiving unanimous Board approval, Rivana moves forward with development in early 2024.

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This year, the Loudoun County Board of Supervisors unanimously supported the formation of a Community Development Authority (CDA) for Rivana at Innovation Station, which propels this game-changing Metro development closer to realization. By creating a CDA district at Rivana, Loudoun is opening doors for incredible destination retail and high-quality ofce opportunities, bringing the Board of Supervisors’ vision of mixed-use development to reality while maximizing investment around Metro. “We are excited to welcome a highly walkable, metro and airport adjacent development that will set a new bar for what is #LoudounPossible.” Set at the strategic intersection of Route 28 and the Dulles Toll Road in Loudoun, Rivana at Innovation Station is heralding a new age of development for the region. Located at the Innovation Station Metro stop and just minutes from Dulles International Airport, Rivana is not just a rst for the region but a testament to holistic urban planning, taking into account current residents and future generations alike.Beyond just square footage, it offers an enticing blend of a retail village, over 3.5 million square feet of premium Class-A ofce space, and nearly 2,000 residential units. Public green spaces and walking trails seamlessly weave through the development, accentuating Rivana’s natural beauty.“Unlike many large-scale mixed-use developments on the East Coast, Rivana is more than square feet and total units, it’s a chance to deliver an engaging, human-scale retail environment activating highly evolved residential and ofce buildings,” stated Stan Nix of Timberline Real Estate Partners, the developer of the project. “We envision a cultural epicenter within the Rivana Village, reminiscent of Loudoun’s towns and villages, nested in a dense urban setting.”Rivana stands as a beacon of the future—crafted for purposeful work, well-rounded wellness, and vibrant cultural experiences. It embodies the best aspects of Loudoun County’s diverse setting, creating unparalleled opportunities for businesses, residents, students, and visitors to experience world-class environments. This is a place where they can truly live, work, learn, and play for years to come.

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01A Record Breaking YEarFY23 full of diversity and numbers.

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Economic Diversity of Wins in FY23ANNUAL NUMBERSOur dedicated team worked diligently to secure over $10 Billion in new investment, facilitating 165 business wins, and contributing to the creation and retention of 5,703 jobs within our community. These results speak volumes about our collective commitment to fostering economic growth, enhancing the business environment, and providing opportunities for our residents.Securing over $10 Billion in investments, a new record in our county and a larger number than some states secure in any given year, demonstrates our unwavering commitment to attracting and retaining businesses that contribute not only to the nancial well-being of Loudoun County, but also to the vitality of our local economy. These investments span various sectors, from technology and healthcare to manufacturing and agriculture, showcasing the diversity and resilience of our county’s economy.Our 165 business development wins represent the #LoudounPossible success stories of local, national, and international businesses choosing Loudoun County as their home. We have worked tirelessly to provide the support and resources necessary for these companies to thrive, and we are thrilled to have them as valued members of our community. One of the most signicant achievements is the creation and retention of 5,703 jobs in the county. These jobs provide our highly educated and qualied workforce with incredible opportunities for growth and stability near their homes, reinforcing our commitment to improving the quality of life for all Loudoun residents. LOUDOUN ECONOMIC DEVELOPMENT AWARD-WINNING WORK RECOGNIZED:Loudoun Farm Exchange: Achievement Award from National Association of Counties (NACo).Loudoun Innovation Challenge: Achievement Award from Virginia Association of Counties (VACO).Loudoun’s Economic Evolution Annual Report: Gold Winner from Hermes Creative Awards.$10,170,000,000165 5,703 1,168investment by winsbusiness wins jobs created/retained business retention34 Retail23Rural10Health27Information and Communication Technology30Data Center2Logistics11Highly Specialized Manufacturing29Other

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Phyllis Randall, Chair-At-Large Koran Saines, Vice Chair, Sterling District Juli Briskman, Algonkian District Tony Bufngton, Blue Ridge District Sylvia Glass, Broad Run District Caleb Kershner, Catoctin District Matthew Letourneau, Dulles District Michael Turner, Ashburn District Kristen Umstattd, Leesburg District Tim Hemstreet, County Administrator Erin McLellan, Senior Deputy County Administrator Joe Kroboth, Deputy County AdministratorBoard of SupervisorsCountyAdministrators01/02/Buddy RizerColleen KardaszDave DiazMark ArmentroutJill BadgerAlex GonskiJohn MagistroRick MorrisShannon WilsonChris BlosserNancy EvankoMollie EversburgBrandon FerrisKatie FlegerChris FribergDanelle HayerOmar HernandezChris HunterBobby KlancherKaty LowitzRobert McCollarLisa MolthenAmy MugfordPaul NewmanRamona ThompsonKC TregoningEconomic Development03/#LoudounPossibleFY2023 ANNUAL REPORT Interested in learning more? Send us a note. send