RICHMOND - Thirteen companies from across the Commonwealth graduated January 14, 2015 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 were recognized during a noon luncheon at the downtown Omni Hotel.
The graduating companies include American Mine Research of Bland County; Allied International Corporation and Defense Group International, both of Fairfax County; Capital Logistics Services of Prince William County; Carter Machinery of Roanoke County; ESRG of Virginia Beach; Hamilton Beach Brands, Inc. of Henrico County; Morooka USA of Hanover County; Klockner Pentaplast of America, Inc. of Orange County; Mountain Lumber of Greene County; MYMIC of Portsmouth; TORC Robotics of Blacksburg; and ThinkFun of Alexandria.
Ninety percent of the graduating companies increased their international sales by 22 percent during their two years in the program. The VALET program now has 172 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 puts participating companies on the fast track to international business growth by connecting them with the necessary tools for successful export sales,” said Paul Grossman, VEDP Vice President of International Trade. “The companies graduating this month have put in a tremendous amount of work and demonstrated their commitment to international expansion by taking advantage of the full range of resources offered by the VALET Program. That work has paid off, in the form of increased sales and new international partnerships, and I am confident that they will continue to see a return on their investment in the coming years.”
Currently, the VALET program has 50 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, 232 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 24-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, China, Germany, Japan, India and the United Kingdom.
To learn more about the VALET program, visit www.ExportVirginia.org.