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Economic Development reports cybersecurity cluster growth; unemployment edges up in Loudoun
Summary
The county's Department of Economic Development reported growing interest in Loudoun's cybersecurity cluster, attributed to a regular CyberTech meetup, and noted an uptick in unemployment locally and statewide compared with last year.
The Loudoun County Department of Economic Development briefed the Finance Committee on Sept. 9, reporting increased outreach and prospect activity in the cybersecurity sector and noting labor-market indicators that show a modest rise in unemployment.
Colleen (last name not specified in the briefing) presented key performance indicators and described a cluster strategy that leverages a monthly CyberTech Meetup to connect C-suite speakers, panels and networking opportunities with local firms and prospective businesses. The department said participants cited Loudoun's digital infrastructure, market access and skilled workforce as competitive advantages for cybersecurity firms.
Economic Development Advisory Commission (EDAC) members Tim Shambara (chair) and Matt Holbrook (vice chair) joined the briefing and highlighted recent prospecting and hosting activities, including visits by specialized manufacturing and ag-tech firms. The EDAC noted robust industry engagement and support for the county's development planning and process-improvement work.
On labor indicators, staff noted an uptick in the county unemployment rate from roughly 2.6% last year to 3.4% this year; the Commonwealth's rate rose from 2.6% to 3.4% and the national rate moved from about 4.0% to 4.3% over the same period, per the department's materials. Economic Development reported increased participation in the Work in Loudoun program, higher attendance at job fairs, and growing demand for support tied to government contracting and entrepreneurship as some federal contractors and employees explore alternative employment or additional revenue streams.
The department said it would continue to provide updates on cluster wins and prospect activity, and that October's EDAC meeting will include projects such as Rivanna and a retail corridor study.
