SmartAsset, a New York-based financial technology company, has ranked Loudoun County #1 in investment in Virginia for the second year in a row.
“Being number one in new commercial investment is always an achievement. But being number one in back-to-back years is proof that Loudoun County has become a premier business location in the Commonwealth of Virginia,” says Buddy Rizer, Loudoun Economic Development’s executive director.
The annual study ranked counties in four areas: (1) the growth in the number of businesses established in the county over a three-year time frame; (2) GDP growth in the local economy; (3) the number of new building permits per 1,000 homes, and (4) the total municipal bond debt raised by the county over the past five years, divided by the number of residents.
“Virginia is a pro-business state, with a number of strong jurisdictions. Ranking at the top of the Commonwealth is testament to the unique assets that make companies want to start and grow in Loudoun County,” Rizer added.
This rating follows another survey by SmartAsset naming Loudoun the “happiest place in America”, also for the second year in a row.
Of the nearly 1,000 counties with a population of 50,000 more in that nationwide study, Loudoun had the fourth-highest income to cost of living ratio (2.5%), and both unemployment and poverty rates under 4%. Loudoun’s poverty rate was lowest of any county in the study. Fairfax County finished second overall, and Montgomery County, MD finished 19th. The ratings also including assessment of marriage rates, bankruptcy rates, life expectancy and physical activity.