Mobile Website | Login | Register
Staff Directory | Advertise | Subscribe | About Us
Business Government Politics Region Crime/Public Safety Education People E-edition Ashburn Hamilton Hillsboro Lansdowne Leesburg Lovettsville Middleburg Purcellville River Creek Round Hill Sterling
Basketball Football Youth Wrestling Gymnastics Swimming Volleyball Baseball Track Golf Cheer Cross Country Schedule Scores
Brambleton Community of Faith Hangin in the Nosebleeds Journal Entry Loudoun Essence Made in Loudoun Odd Angles River Creek & Lansdowne South Riding Sterling, Cascades & CountrySide
This Week's Slideshow Browse All Galleries Your Best Dish Featured Video The Virginians
  • Announcements
  • Autos
  • Jobs
  • Legals
  • Homes
  • YardSales
  • Submit an Ad
  • Website Development SEO and SEM Newspaper Advertising Online Advertising
    Classified listings Homes section

    Report: Loudoun County driving the region’s economy

    With the Northern Virginia economy “stuck in neutral,” Loudoun County is driving economic growth for the region, according to data from the Bureau of Economic Analysis.

    Per capita income in Loudoun grew at nearly twice the rate of jurisdictions in Virginia and the U.S., according to the BEA, and more than five times the rate of Fairfax County and the City of Alexandria -- two jurisdictions that have been benchmarks for the region’s growth.

    Fairfax County had the lowest rate of growth, only 2 percent.  

    "The region has stopped growing," Stephen Fuller, director of the Center for Regional Analysis at George Mason University, told the Mt. Vernon Gazette, which initially reported the findings. "High wage jobs and most new jobs are paying below the average for all jobs."

    But not in Loudoun, Northern Virginia’s only bright spot.  The Bureau of Economic Analysis statistics show per capita personal income increased from $52,000 in 2008 to $60,000 in 2012. The county’s Economic Development Agency currently puts annual household income at about $120,000 for the county, consistent with BEA’s trend analysis.

    Loudoun is also growing at the fastest rate in Virginia. The county's population has doubled in the last 15 years, and so has the county's demographic profile.

    "One of the things that is really changing in Loudoun is having more younger people going out there, and families without children going out there," Hamilton Lombard, research specialist for the Demographics Research Group at the University of Virginia Weldon Cooper Center for Public Service told The Gazette.  "And that's just kind of a transformation from being a bedroom community into actually having lots of job centers there and having lots of younger people going there before they start families."

    Growth in Loudoun has been fueled by mixed-use developments that include residences, shopping, offices and entertainment,  a trend that is slowly making Loudoun more friendly for millenials.

    County planners and elected officials are currently confronting growth and land-use issues associated with the Silver Line, which extends to Dulles International Airport and Loudoun County by late 2018.

    Comments

    Be the first to post a comment!

    Featured Classifieds
    DS RESIDENTIAL PROGRAM MANAGER
    Loudoun Countys Department of Mental Health, Substance Abuse, Developmental Services is seeking a full-time Developmental…

    More classifieds | Submit an Ad

    Get Our Headlines Via Email
    Tuesdays:  
    Thursdays:

    StayConnected

    Follow Us
    on Twitter

    News | Sports

    Like Us
    on Facebook

    News & Sports

    Join Our
    Email List

    Sign up for
    weekly updates
    The Loudoun Times-Mirror

    is an interactive, digital replica
    of the printed newspaper.
    Open the e-edition now.

    Loudoun Business Journal - Summer 2014

    Loudoun Business Journal - Spring 2014