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New bos 12.1.2011 final


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Loudoun County Department of Economic Development's presentation to the incoming Board of Supervisors. …

Loudoun County Department of Economic Development's presentation to the incoming Board of Supervisors.

Includes DED's business plan for FY 12-13, Key Indicators and accomplishments.

Published in: Business, Technology

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  • September 2011Loudoun 4.4% NoVA 4.9% VA 6.5% US 9.1%
  • Total permits thru October 2011 = 1,283,907 SF (this includes public space like schools)Loudoun County commercial vacancy has decreased from 16% in 2009 to 13.1%. Goal is to further reduce to 12%.Fairfax County comparison: 2009 Vacancy: 13.1%, 2011 Q3: 12.5%Prince William comparison: 2009 Vacancy: 13.9%, 2011 Q3: 13.3%New construction permitted has slowed substantially since 2008. The new construction that has occurred is primarily industrial space on the Route 606 corridor, and data centers.Focus on leasing existing space while continuing to market as a build-to-suit.
  • ICT: Loudoun’s largest cluster, representing 16% of Loudoun employment and 22% of Loudoun companies.FGC: Loudoun is home to over 900 federal government prime contractors.International: There are approximately 80 Foreign-owned companies in LoudounAir Cargo notes: Approximately 56% of the U.S. population resides in areas with overnight delivery from DullesTop airport import commodities by metric tonnes: Machinery, electrical machinery, pharmaceuticalsTop airport export commodities by metric tonnes: Machinery, electrical machinery, plastic
  • More than 8,000 of the net new jobs have come in our targeted clusters. The two largest growth sectors are “Computer Systems Design,” and “Management, Scientific & Technical Consulting.”The “Other” category includes Construction, Restaurants & Hotels, and Government.2010 Loudoun Employment (133,500 jobs)Cluster Jobs:Professional & Technical Services 12% (15,500 jobs)Information 5% (7,000 jobs)Transportation & Warehousing (airport related) 7% (9,300 jobs)Manufacturing (primarily high tech) 3% (4,400 jobs)Rooftop Jobs:Government (includes schools) 16% (21,000 jobs)Retail 12% (16,200 jobs)Construction 11% (14,200 jobs)Accommodation & Food Services 8% (11,200 jobs)Health Care 7% (9,100 jobs)Other (includes real estate, insurance, utilities, other services) 19% (25,100 jobs)
  • Wins: REI Systems, Neustar, Niitek, data center operators such as Equinix, Digital Realty Trust and Raging Wire and data center users including Microsoft and AmazonProspects Lost (3)=3%Project Gaius (DC), Verisign, Habitat for HumanityActive Prospects (63)=68%8.76 M SF with 7,280 jobsQualified Prospects: 30 (4.561 M sf=52%)Prospects: 33 (4.199 M sf=48%)FGC/Aerospace: 9% (5) (4 QP and 1 P)ICT: 7% (16) (3 QP and 13 P)Data Centers: 61% (22) (10QP and 12 P)Other: 21% (15) (9QP and 6 P)
  • 3.2 m SF with 2,920 jobs (11 new, 15 expansions, one retention)FGC/Aero: 700K (23%)and 2,000 jobs Two new and two expansions –all tenantsICT: 180K and 320 jobsTwo new and one expansion-all tenantsICT Data Centers: 2.1 M (64%) with 240 jobs Seven expansions, four new and one retentionBTS: 1 MTenants: 1.1 MLife Science: 30K with 160 jobsExpansion-tenantOther: 200K with 200 jobsFour expansions and three newBTS: 185KTenant: 33K
  • NAIOP—Best of Real Estate Awards with two Loudoun companies winning: Rockwell Collins and Charron ConsultingLoudoun Chamber—Virtual Realty TourBisnow – Future of Loudoun event. Department was a speaker, over 500 attended.Data Center events such has 7 by 24, AFCOM and HostingCon Business Journal: MC Dean and
  • Rural Economy Business Development Strategy is an initiative of the REDC.Total sales generated by Loudoun County’s Equine Industry $70,425,051 according to a 2010 study by the Weldon Cooper Center for Public Service.$33,407,000 Annual Market Value of Ag Products Sold according to the most recent United States Department of Agriculture Census (2007)Number of farms-1,427 consisting of 142,452 acres according to 2007 USDA Census data.163,140 acres in Land Use.
  • Videos: worked with Emmy Award Winning Electrofish Films. Featured Loudoun business leaders in targeted clusters. Marketing Plan covers all clusters and includes tactics to reach metricsEngaged with leading ED Consultants to develop intelligent navigation layout. Utilizing CivicPlus to program website. Site Selection:VEDP Site: 33 listings (industrial: 8, flex: 2, office: 11, land: 12)DED Site: Office and Industrial land and building35 land sites470 space listing (Costar Showcase)
  • Transcript

    • 1. December 1, 2011Economic Development
    • 2. Overview• Vision/Mission• Economic Trends• Business Development/Targeted Clusters• Agriculture/Rural Development• Communications and Marketing• Strategic Initiatives
    • 3. Vision & MissionVision: An innovative, globally competitive economy known for its favorable business environment, exceptional quality of place and strong sense of community. Adopted by the BOS, July 2004Mission: The Department of Economic Development provides excellent customer focused economic development services to attract, grow and retain targeted businesses and to promote entrepreneurism, in order to diversify and strengthen Loudoun’s economy.
    • 4. DED Business Plan FY12-FY13• Recruitment of New Companies in Targeted Business Sector• Expansion, Retention & Growth of Existing Businesses & Entrepreneurs• Targeted Promotion of Existing Rural Businesses & Their Products• Ensure Diversification of Targeted Sectors & Commercial Product Type
    • 5. DED Business Plan FY12-FY13• Market Loudoun’s Economic Development Story to Appropriate Audiences• Partner with Private & Public Organizations & Business Community• Build Positive Team Oriented Environment that Supports Staff Development & Organizational Excellence
    • 6. DED Partners• Economic Development Commission• Rural Economic Development Council• Visit Loudoun• Loudoun Towns• Design Cabinet• Small Business Development Center• Mason Enterprise Center• Loudoun Chamber of Commerce• Northern Virginia Technology Council• Metropolitan Washington Airport sAuthority• Greater Washington Initiative• Virginia Economic Development Partnership
    • 7. Unemployment Trends Comparison 12.0 10.0 8.0 6.0 Loudoun No Va 4.0 Va US 2.0 0.0Source: Virginia Employment Commission
    • 8. Commercial Development: Building Permits and Vacancy Sq Ft Permitted Vacancy Rate 10,000,000 20.0% 8,000,000 16.0% 6,000,000 12.0% 4,000,000 8.0% 2,000,000 4.0% 0 0.0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 YTD 2011Vacancy rate does not include retail
    • 9. Business Development Targeted Clusters• Information & Communications Technology (includes data centers) *• Federal Government Contracting/ Aerospace *• Biotechnology/Life Sciences *• International “Overlay” *• Air Cargo*Clusters approved by BOS in July 2008
    • 10. Employment Trends• ranked Loudoun County #2 for job creation during the past decade – 53.4% increase in jobs (46,000 net new jobs) Targeted Clusters Other 19% 40% Education 14% Retail Health 15% 12% – 98% increase in business establishments
    • 11. Business Development PipelineCY11 (through November 21, 2011) 27 Won 3 Lost 63 Active: 30 Qualified Prospects 33 Prospects 93 Total Prospects
    • 12. CY11 Business Development Accomplishments• 3.2 M Sq Ft won/announced in CY11 – 2,920 jobs – 2.2 M Sq Ft being ICT including data centers• New and/or expanded companies Include: – Neustar HQ – Expansion/Tenant – RagingWire – New/Tenant – Raytheon – New/Tenant – Niitek HQ– Expansion/Tenant – REI HQ –New/Tenant – J.K. Moving Services– Expansion/Build-to-suit• Mason Enterprise Center opened in Leesburg
    • 13. CY11 Business Development National Outreach •Boston •Chicago (3) •Atlanta (2) •San Jose •Los Angeles/San Diego •Washington, D.C. Boston Chicago (3)San Jose Wash, D.C. Los Angeles/ San Diego Atlanta (2)
    • 14. CY11 Business Development Regional Outreach• Northern Virginia Technology Council• National Association of Industrial & Office Properties – Best of NAIOP NoVa Awards• International Council of Shopping Centers• Greater Washington Initiative: Brazil & Czech Business Delegations• Virginia International Trade Conference (Virginia Economic Development Partnership)• Washington Business Journal Events – Best Real Estate Deals & Fast 50• Loudoun Chamber of Commerce Community Sponsor – Virtual Realty Tour• Small Business Development Center – Building Business Together event
    • 15. CY11 Agricultural/Rural Development Accomplishments• Rural Economy Business Development Strategy Underway• Completed Successful Loudoun County Farm to School Pilot Project• Business Retention – Maximizing networks of common business clusters • Blue Ridge Cattleman’s Association, Loudoun Winegrowers Association, Christmas Tree Growers Association, etc. • Forming a Loudoun County Equine Alliance – Producer Education • Forum for Rural Innovation • Twilight Tour
    • 16. CY11 Agricultural/Rural Development Outreach & Marketing• Regional Outreach – Metro Wash. Council of Govts Agriculture Working Lands Group – Future Harvest Track Sponsor – DC State of the Plate – Chefs Go Fresh – National Value-Added Agriculture Conference – North American Farmers Direct Market Association• Marketing Efforts – Spring Farm Tour – Fall Color Tour – Buy Fresh Buy Local Guide – Christmas in the Loudoun Valleys
    • 17. CY11 Communications & Marketing• Produced & distributed seven marketing videos• Developed targeted marketing plan• Existing website enhancements – YouTube video channel embed – Enhanced site selection tools – Targeted business intelligence data sheets, including workforce
    • 18. Strategic Initiatives 2011- 2012• Air Cargo – Familiarization Tour, Nov. 2011 – Partnership with MWAA & VEDP• Launching New Website & Brand for Traditional Economic Development – Feb. 2012• Small Business – “Speed Lending” w/ SBDC in 2011 – Small Business Finance event early 2012 – Small Business Web Portal & Newsletter & Twitter
    • 19. Strategic Initiatives 2011- 2012• Rural Business Initiatives – Rural Business Strategy – Year-Round Marketing Plan/Rebranding – March 2012 – Website Redevelopment – June 2012• Business Retention – Outreach to Lease Expirations – Business Meetings in Targeted Clusters• Sustainable Energy Task Force• Lead Generation Contract – U.S. and Canada – International (Farnborough Air Show 2012)• Cyber Security Center of Excellence
    • 20. Business Plan Metrics FY12- FY13• Reduce Commercial Vacancy Rate• Increase Number of Qualified Prospects• Increase Unique Web Visitors & Page Views (comm. & rural)• Increase Percentage of Client Issues Resolved (comm. & rural)• Increase Sales from Select Direct Market Products• Increase Number of DED Supported Rural Associations and Groups
    • 21. December 1, 2011Economic Development