VEDP’s International Trade programs provide direct support to Virginia companies committed to increasing their international export sales as a corporate growth strategy. These services help companies identify potential new markets, develop market entry strategies, and locate possible distributors and representatives for products or services – all at little to no cost to the company.
For a full overview of VEDP’s International Trade program, a calendar of events, and resources that include contact information for offices located throughout Virginia, please visit www.ExportVirginia.org.
Benefits of Exporting
Virginia’s total state exports reached $35 billion in 2020.
International trade plays an essential role to the vitality of the Virginia economy. From healthcare innovators in Richmond and Charlottesville to manufacturing plants in the Shenandoah Valley and Roanoke to defense firms in Hampton Roads and Northern Virginia, international trade benefits every industry sector in the Commonwealth.
Selling internationally allows Virginia companies to tap into a diverse range of global partners, customers, and suppliers. It is now easier than ever for businesses, no matter what size or in which sector, to experience the benefits of international trade.
VEDP’s International Trade Division currently provides these programs and services to Virginia companies committed to increasing their international export sales as a corporate growth strategy:
Supply Chain Optimization Program
The Virginia Supply Chain Optimization Program helps Virginia companies evaluate and strengthen supply chain processes for inputs and components used in future exporting initiatives. Virginia companies participating in the program receive training from experts in supply chain mapping, import compliance, transportation, and have access to up to $10,000 in reimbursements for supply chain-related expenses.
Global Defense Program (GDP)
GDP helps Virginia’s defense companies diversify into new international markets. Eligible defense-related companies receive assistance with strategy, export compliance, matchmaking, translation, and market research. They also participate in vendor days with U.S. Combatant Commands overseas.
International Market Research
A global network of in-country consultants covering more than 85 countries delivers over 200 international market research reports to Virginia companies annually. These experts provide valuable in-country market research specific to each company’s product or service.
State Trade & Export Promotion (STEP) Grant
The STEP Grant is designed to increase the number of small businesses that export and raise the value of goods and services exported. The program is funded through a cooperative agreement with the U.S. Small Business Administration.
VEDP conducts trade missions where Virginia companies travel internationally to meet face-to-face with potential customers. Meetings are prequalified based on a participating company’s export market objectives.
Trade Show Assistance Program
VEDP provides reimbursements, up to $10,000, to Virginia companies participating as exhibitors at international trade shows. To qualify for eligibility, the trade show must occur overseas or, if domestic, have a demonstrated international component.
Companies may also choose to participate with VEDP at select international trade shows. Virginia’s booth provides the ideal base for co-exhibiting companies, allowing participants to exhibit products and services as well as network with prospective customers.
Virginia Leaders in Export Trade (VALET)
VALET is a two-year international business acceleration program that offers a combination of capital resources provided by the Commonwealth and professional services from private-sector partners. Following a very thorough evaluation process, only 25 companies per year are accepted into the VALET program.
Virginia International Gateway, Portsmouth