LEESBURG, VA—With Virginia's economic development fundreportedly low in cash, Loudoun County economicdevelopment officials are considering a plan to ramp up their localincentive funding.


The Loudoun Department of Economic Developmentwill request the board's economic development committee to increaselocal incentive funds to $1 million in order “to accommodate recentactivity and potential business retention and expansionprojects.”


The increase in funding may be necessary since Loudoun Countyhas made two cash incentive offers to prospective clients—one for$450,000 and another for $500,000, according to the Loudoun DED.Neither incentive deal has closed, according to the WashingtonBusiness Journal.


According to a Loudoun staff report, the Governor's OpportunityFund "is running out of funds." It has a bank balance of $7 millionwith commitments of about $26 million, including $950,000 forLoudoun projects. See story in the Washington Business Journal.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.