VIRGINIA ASIAN CHAMBER OF COMMERCE

Headquarter Office: 14214 Washington Hwy, Ashland, Virginia 23005, USA Tel: 804-798-3975 * Fax: 804-798-1164 *

FOR IMMEDIATE RELEASE December 16, 2016

Media Contact:Tinh duc Phan, Chairman

Virginia Asian Chamber of Commerce

Loudoun County Administrator Tim Hemstreet

Wins Virginia Asian Chamber of Commerce Award

The Virginia Asian Chamber of Commerce has presented Loudoun County Administrator Tim Hemstreet the “Champion of Economic Visionary Award” for 2016. The award ceremony was held in Richmond on the 7th anniversary of the date Mr. Hemstreet began his role as the head of Loudoun County government, which now has more than 4,000 employees.

Mr. Hemstreet is the sixth recipient of this prestigious award; previous honorees include two state governors.

“We selected Mr. Hemstreet for this honor because of the outstanding economic development success that has been achieved under his leadership,” said VACC Founder and Chairman Tinh duc Phan.

Tim Hemstreet began his tenure as the head of Loudoun County government during a low point in the nation’s recession. At the time he was hired, Loudoun had a projected budget shortfall of almost $73 million; real property values were expected to fall by five percent, and the county lost 85 positions. Loudoun residential home values had hit rock bottom, with commercial property values soon to follow.

Loudoun County has come a long way since then. The county budget has almost doubled under Mr. Hemstreet’s leadership, rising from $1.4 billion in fiscal year 2010 to $2.4 billion in FY 2017. Over the past seven years, Loudoun has maintained its AAA rating from all three national rating agencies. Loudoun County government has also been recognized for its sound and prudent fiscal management by organizations such as the International City/County Management Association and the Government Finance Officers Association.

Loudoun residents now have the highest household income in the nation. Loudoun also has the 3rd fastest job growth in the U.S., and the highest amount of commercial investment for counties of its size in America. Driving this investment is Loudoun’s renowned data center industry, the largest and fastest-growing data center market in the world. Seventy percent of the entire planet’s Internet traffic passes through Loudoun County data centers every day.

Buddy Rizer, the executive director of the Loudoun County Department of Economic Development, said, “When he started, Mr. Hemstreet said that ‘economic development isn’t a department,’ it’s a county-wide initiative.He has been a great leader, mentor and partner in creating one of America’s great economic development success stories.He truly deserves this honor.”

The county’s substantial growth has required innovative approaches to land use, responsible management of development, and significant investment in capital infrastructure, which included more than $1 billion for transportation projects in 2016. Mr. Hemstreet played an instrumental role in implementing the county’s decision to extend Metrorail’s Silver Line into Loudoun. He also presided over the reform of the county’s Fire and Rescue System. As the county’s emergency manager, he has responded to a broad range of threats such as natural disasters.

Despite occasional emergencies caused by weather events, people who live in Loudoun enjoy a sense of security. In a survey of county residents, 98 percent of respondents said they feel safe in Loudoun, and 95 percent rated the quality of life high. Loudoun has been nationally recognized as the healthiest county in Virginia, and as the happiest county in America.

This prosperous county benefits from having a diverse population. Almost one out of every four Loudoun residents was born outside the U.S., with more than 50 percent having been born in Asia.

The strength of the county’s Asian community is one of the reasons Loudoun has been a destination for visits by Asian business leaders. The county has hosted dozens of delegations from China and Korea during the seven years Tim Hemstreet has been the county administrator. In addition, top Loudoun officials have made business trips to China and Korea to establish relationships with important corporations that could benefit from opening offices in Loudoun.

As part of the relationship-building efforts, Loudoun has established sister-city partnerships with the Shunyi District of China; the city of New Taipei in Taiwan; and Goyang and Gangneung Cities in South Korea. In May, during a trip to its Sister City in the Shunyi District, officials from Loudoun signed a marketing agreement between Washington-Dulles International Airport and Beijing Capital International Airport.

Tim Hemstreet excels at welcoming visitors, companies and new residents from Asia to Loudoun.

“The Virginia Asian Chamber of Commerce is proud to recently acknowledge that Mr. Hemstreet shares our ancestry, as he has a parent and family members who are Chinese Americans,” said VACC’s Tinh duc Phan. “He has continued the Asian tradition of excellence while providing leadership to Loudoun County government. The Virginia Asian Chamber of Commerce was pleased to honor Mr. Hemstreet with its highest award.”

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