Loudoun Economy Grew To $33 Billion In 2022: Report

LOUDOUN COUNTY, VA — Loudoun County's economy grew by 6.3 percent in 2022, according to a new report from the U.S. Bureau of Economic Analysis (BEA).

The report measured the gross domestic product (GDP) for every county in the country. GDP measures the total cash value for the goods and services produced by a jurisdiction.

In 2022, Loudoun County's GDP measured in at $33.8 billion, the report said. Loudoun's 6.3 percent GDP growth was the steepest increase in the Mid-Atlantic region.

Throughout the U.S., the average county saw a 1.9 percent growth in GDP in 2022.

Buddy Rizer is executive director for Loudoun County's Economic Development.

"Over the last 16-plus years I’ve been with Loudoun Economic Development, we have been laser focused on growing and diversifying our commercial tax base," Rizer told Patch on Monday. "As the [BEA] report shows, we have been able to not only grow the economy by billions of dollars (and reduce the tax rate by more than 40 cents), but the diversity in our tax base has allowed us to weather the unusual economic conditions we are currently facing."

The BEA report also included data about growth within certain sectors of the economy. Loudoun's growth was spurred by the transportation and professional, scientific and technical services industries. They grew by 34 percent and 11 percent respectively.

"The job growth has come across nearly all our diverse sectors, with health care, professional, scientific, and technical services leading the way as we’ve built what is now the third largest economy in Virginia," Rizer said.

More information is available on the Bureau of Economic Analysis website.