New bos 12.1.2011 final

Economic Development

December 1, 2011

Overview

• Vision/Mission• Economic Trends• Business Development/Targeted Clusters• Agriculture/Rural Development• Communications and Marketing• Strategic Initiatives

Vision & Mission

Vision: 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 2004

Mission: 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.

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

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

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

Unemployment Trends ComparisonSe

p-10Oct-

10Nov-1

0Dec

-10Jan

-11Fe

b-11M

ar-11

Apr-11

May

-11Ju

n-11Ju

l-11

Aug-11

Sep-11

0.0

2.0

4.0

6.0

8.0

10.0

12.0

LoudounNo VaVaUS

Source: Virginia Employment Commission

Commercial Development:Building Permits and Vacancy

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

YTD

201

1

0

2,000,000

4,000,000

6,000,000

8,000,000

10,000,000

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

Sq Ft Permitted Vacancy Rate

Vacancy rate does not include retail

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

Employment Trends

• CNNMoney.com ranked Loudoun County #2 for job creation during the past decade– 53.4% increase in jobs (46,000 net new jobs)

– 98% increase in business establishments

Targeted Clusters

19%

Education14%

Retail15%Health

12%

Other40%

Business Development PipelineCY11 (through November 21, 2011)

27 Won3 Lost

63 Active:30 Qualified Prospects

33 Prospects

93 Total Prospects

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

CY11 Business Development National Outreach

• Boston• Chicago (3)• Atlanta (2)• San Jose• Los Angeles/San Diego• Washington, D.C.

Boston

Chicago (3)

Atlanta (2)

San Jose

Los Angeles/ San Diego

Wash, D.C.

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

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

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

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

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

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

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

Economic Developmentwww.bizloudoun.gov

December 1, 2011