RICHMOND - Twelve companies from across the Commonwealth will graduate Thursday from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) Program, touting impressive results from their newly acquired tools to successfully export products and services overseas. The graduating companies will be recognized during a noon luncheon at the downtown Omni Hotel.
July’s 12 graduating companies include Avectra, Inc., and Communications-Applied Technology Company, both of Fairfax County; BondCote Corporation of Pulaski County; Ceramic Technology, Inc. of Tazewell County; Lighthouse Instruments, LLC of Albemarle County; McAllister Mills Inc. of Grayson County; Opower of Arlington County; Paramount Sleep of Norfolk; QMT Associates, Inc. of the City of Manassas; Schneider Laboratories, Inc., and SoftChalk, LLC, both of the City of Richmond; and Turner Strategic Technologies of the City of Virginia Beach. Collectively, these companies have increased their international sales by more than 200 percent during their two years in the Program. The VALET program now has 148 graduates.
Launched in January 2002, the Program assists exporters in the Commonwealth that have firmly established domestic operations and are committed to international exporting as an expansion strategy. Participating firms are chosen based on their dedication to growth through export.
“The VALET program accelerates the development of international business by connecting companies with the practical tools needed for successful export sales,” said Paul Grossman, VEDP Vice President of International Trade. “These graduating companies have utilized all of the resources of the VALET program and have really challenged themselves to grow their international businesses. This class of companies worked extremely hard to achieve these results, and I am confident that they will see the return on their investment for years to come.”
Currently, the VALET program has 47 companies as participants. New participants in the program have access to $15,000 in reimbursement funds from the Commonwealth. The program provides participating companies assistance from a team of experienced international service providers to help meet their international goals. Private sector service providers such as attorneys, web designers, bankers, translators and freight forwarders contribute essential expertise to assist companies in executing their export initiatives. To date, 200 Virginia companies have been accepted to participate in the VALET program.
The Virginia Economic Development Partnership, a marketing organization, was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. The Partnership is a state authority, which is governed by a 25-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Shanghai, Mexico, Japan, India and the United Kingdom.
To learn more about VALET program, visit www.ExportVirginia.org.