Economic Woes in Rest of Nation Could Send Skilled Workers Here
By Scott Den Herder
loudounextra.com Staff Writer
Sunday, April 20, 2008
Loudoun and other Northern Virginia counties probably will not be hurt by a nationwide economic slowdown and might actually benefit from it, according to members of the business community.
At a meeting Tuesday of the Dulles Regional Chamber of Commerce at the Hyatt Dulles in Herndon, economic development officials from Loudoun, Fairfax and Prince William counties debated that topic during a roundtable discussion titled "Tracking the Economic Environment in Our Back Yard."
Telos chief executive John Wood, vice chairman of the Loudoun Economic Development Commission, said that his company might 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.
Gerald Gordon, president and chief executive of the Fairfax County Economic Development Authority, said that the region is in a unique position to weather an economic storm and that the job force could experience "phenomenal" growth.
"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 are likely to relocate to Northern Virginia for jobs, he said.
"We won't see job losses here. We'll have net job gains, year over year," Gordon said. "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 than 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.
"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."
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