RICHMOND - Twelve companies from across the Commonwealth graduated 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 by Governor McAuliffe during a luncheon at the downtown Omni Hotel yesterday.
The graduating companies include Cask LLC of Stafford County; Dynamic Aviation of Rockingham County; ENSCO, Euclid Systems, and TAS-Corp of Fairfax County; G2 Ops of Virginia Beach; Kollmorgen of Radford; Lumber Liquidators of James City County; Premium Steel of Roanoke; Rainbow Station of Henrico County; WeightPack Inc. of Powhatan County; and xTuple of Norfolk. These companies increased their international sales by an average of 36 percent during their two years in the Program. The VALET program now has 211 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 49 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, 245 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, United Kingdom, Germany, India, China, and Japan.
To learn more about the VALET program, visit www.ExportVirginia.org.