A Light Emitting Diode (LED) component includes an LED die having first and second opposing faces and a sidewall. A contact is provided that is spaced apart from the LED die. The contact includes an inner face adjacent the first face and an outer face adjacent the second face. The contact may be a portion of a lead frame or a discrete contact slug. A wire bond extends between the first face and the inner face. A reflective layer is provided on the inner face that extends to the sidewall and also extends along the sidewall. The reflective layer may include white paint. Related fabrication methods are also described.