Plenty of Reasons to Thank our Business Community

Recently I had the pleasure of cutting the ribbon for the grand opening of one of our newest small businesses, Adroit Theory Brewery, and had a great conversation with the owners. Was happy to hear them say they felt the Town was "business friendly".

While some extreme elements and tabloid media in the community seem to like to bash local business owners, we are blessed to have a vibrant business community that is an important part of our economy and lifeblood of the community.

There are many reasons to be thankful for their investment in our Town.

Businesses Help Keep Property Taxes Low

As you know, for the Loudoun County government budget property taxes are the source of 60% of their revenues. Comparatively for the Purcellville budget, property taxes (paid for by both residents and business owners) are 31.5% of our revenue stream. The lion's share of the balance of revenues are generated through the businesses we are fortunate that call Purcellville home.

In fact, due to our strong business community and conservative fiscal management we have been able to hold the line or cut property taxes for 6 out of 7 years. The average homeowner is paying $42 more in property taxes than they were in 2006.

Diverse Economy Results in Triple A Bond Rating

Last Fall when the Town went into the bond market for the first time to refinance existing long term debt, Standard and Poors rated our community as Triple A. Specifically they cite our strong business community as part of the reason for the highest rating possible.  The result of that strong rating is we are able to pay down more than half of our General Fund debt in ten years saving taxpayers more than $2 million.

Jobs, Jobs, Jobs

As you know, more than 90% of our businesses licenses held in Town are by non-chain, independent businesses. They are also great job creators. For the past two years more than 600 new, private sector jobs have been created by businesses right here in Town. While some of the business bashers may sneer at the jobs that have been created, tell that to the Mom or Dad who needs one, a retiree who is looking to earn some extra money or to the many youth in our neighborhoods who need to pay for gas, tuition or to help out at home.

Say Thanks

I am proud our business community feels they are welcome. The next time you patronize one of our businesses, large or small, tell the owner or manager thanks for doing business here, tell them they are appreciated and an important part of our community.

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