Recession Shouldn't Hurt Loudoun, Leaders Say
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Wednesday, April 16, 2008
Loudoun and other Northern Virginia counties could actually benefit from a nationwide economic slowdown, according to some members of the local business community.
At a Tuesday meeting of the Dulles Regional Chamber of Commerce at the Dulles Hyatt in Herndon, economic development leaders from the Loudoun, Fairfax and Prince William counties debated a variety of topics during a roundtable discussion titled, "Tracking the Economic Environment in Our Back Yard."
Scott Den Herder
Moderator Danny Vargas, left, introduces speakers Martin Briley, Dorri O'Brien Morin, Gerald Gordon and John Wood at a round table discussion held Tuesday in Herndon.
John Wood, CEO of Telos and vice chairman of the Loudoun Economic Development Commission, said his company might, in fact, benefit from a recession.
"Ultimately, what it means for businesses in Loudoun County is that there is more available workforce to hire from," he said. "We're growing pretty quickly and I think we will continue to do that as long as we can attract people and retain the ones we have."
Ashburn-based Telos, which has about 500 employees, provides computer and network security for federal agencies and other clients.
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Gerald Gordon, president and CEO of the Fairfax County Economic Development Authority, said the region is in a unique position to weather an economic storm and that the local job force could experience "phenomenal" growth.
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"Thank goodness the rest of the world is about to see a recession, because every time there is a recession and jobs are lost in Boston and California and other markets, people still have to work," he said.
A number of those people could likely relocate to Northern Virginia for jobs, he said.
"We won't see job losses here. We'll have net job gains, year over year. It may be a lot slower than what we've experienced in the last decade, but we will still have growth, whereas the rest of the country is worried about job losses. And that's what distinguishes us every time there is a recession."
Gordon said the region generally does well during economic slowdowns because of its proximity to the federal government and its adherence to strategic plans for economic growth.
"…It's about competitive advantage. We're in a better situation that our competitors, and when the recession ends, we will come out of it faster and stronger," he said.
Dorri O'Brien Morin, manager of strategic initiatives and communications for the Loudoun Department of Economic Development, said Loudoun's proximity to Fairfax is a boon for its economy.
"We are very lucky that we are a neighbor of Fairfax County because when businesses come look at the region, they don't look at just the locality," she said. "Fairfax does a lot of awesome marketing, and a business will come and they will look at Fairfax, and they will look at Loudoun, and they will look at Prince William, and then we have the opportunity to close the deal."
Tagged: Chamber of Commerce, Herndon
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Any of you that want to have a recession, go right ahead. I choose not to participate. The drive-by media inundate us daily with doom-and-gloom scenarios that I simply don't buy into. There is a political party, willingly aided and abetted by that same 90% liberal media, that survives on the notion that if they can convince enough voters that things are terrible ("soup-line America") and getting worse, they can win elections. I, in contrast, believe in American exceptionalism. Not superiority. Exceptionalism. Look up the two words in a dictionary if you need to understand the difference. The American people are a resilient bunch. We have the ability, on our own, without government intervention, to overcome the obstacles that life puts in our way and achieve things we never thought we were capable of until we tried. Those who sit around and wait for government to bail them out of every situation that presents itself are robbing themselves of one of America's greatest features - the ability of individuals to accomplish great deeds on their own despite whatever tries to get in their way.
Posted by obviously (anonymous) on April 16, 2008 at 9:38 a.m. (Suggest removal)
I'm not worrying about jobs. I know we them because 75% of us are working for either the gov't or a gov't contractor. It's a fact of life in Northern VA, MD and DC. What worrying me more are the expensive prices. Everything around here are so VERY expensive. Our families need to make $150k to $200k to just making it here. We have to work so hard just to stay in one place. In other areas, we don't have to work so hard and sacrify our family lives. Just because there are jobs to be had doesn't mean it's alright. Granted, being employed is far better than not. I know what I want to do when I retire: move out of the area.
Posted by Dung_B_Hoang (anonymous) on April 16, 2008 at 11:23 a.m. (Suggest removal)
I love the optimism of the first poster: Sure, higher gas and food prices were only caused by the left wing media in this country. Too bad that these prices are real even in Loudoun county! And if Wallstreet does not see it because of its disconnect from Mainstreet, that won't change the situation. Even for optimistic and resiliant people.
Posted by bengl01 (anonymous) on April 16, 2008 at 1:57 p.m. (Suggest removal)
obviously .... I could hug you. I've thought exactly the same thing. Hell, I'm still waiting for that first negative Quarter that signals we're in danger of a recession.
You nailed it.... the only hope that the liberals truly have is to project gloom and doom in order to change the horses on the pulling team. Unfortunately, Obama just showed his ignorance on capital gains taxes yesterday. He's the one who could ultimately put us in a recession.
Posted by honchonumberone (anonymous) on April 18, 2008 at 9:06 p.m. (Suggest removal)
The ignorance of a couple of posters here in reference to our economy is so breathtaking there is no point in refuting them. So I'll just leave off on the weak dollar, spiraling food costs, billions a month spent in Iraq, energy costs spiking double digits and that whole housing bubble collapse is a mirage of course.
Posted by datdamwuf (anonymous) on June 16, 2008 at 6:27 p.m. (Suggest removal)
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