Understanding clusters for business attraction.
Camoin Associates worked with the Loudoun County Department of Economic Development (DED) as part of a broader business attraction campaign to help them focus their business development efforts on attracting, retaining, and growing companies in targeted business sectors. DED previously identified their key business sectors: IT & Communication, Federal Government Contracting, Aerospace, Air Cargo Related Logistics & Light Manufacturing, International, and Bio & Health Care related IT.
Our team coupled industry information obtained from stakeholder interviews with EMSI (Economic Modeling Specialists, Inc., www.economicmodeling.com) data to conduct an economic base analysis of industry employment, wages, and occupations to assess trends and future opportunities. This information was used to identify clusters that have the greatest potential for the region and/or are in need of the most assistance to maintain their strength and warrant additional analysis. For these clusters, opportunities and constraints were identified through an in-depth investigation to include a detailed industry analysis of occupation and trends as well as education and skills needed, identification of current companies in the cluster, and research into any changes or advancements in technologies.
The opportunities and constraints identified during the analysis helped create a foundation for the development of guiding principles for Loudoun County to strengthen the clusters. In addition to the guiding principles and recommendations, our team identified businesses in each cluster that do not currently have a presence in Loudoun County but would be a good fit based on the current assets and resources available.
- Industry Stakeholder Interviews
- Industry, Occupation, & Workforce Analysis
- Opportunities & Constraints Analysis
- Strategies for Strengthening Industry Clusters
2015 was Loudoun County's