RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a City of Suffolk company, Grandwatt Electric Corporation, into its two-year Virginia Leaders in Export Trade (VALET) program. 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 growing their export sales.

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, accountants and freight forwarders, contribute essential expertise to assist companies in executing their export initiatives.

“Ninety-five percent of the world’s consumers reside outside of the United States, so preparing to maximize the opportunities in the global marketplace is exactly what our businesses should be doing,” said Virginia Secretary of Commerce and Trade Maurice Jones. “VALET is a premier program that has been helping companies across the Commonwealth to create and enhance their export capabilities. I congratulate Grandwatt Electric Corporation, and look forward to its continued success.”

Grandwatt Electric Corporation joins the program as part of the 29th class of the VALET program. To participate, each eligible business must meet several quantitative criteria and complete an application process. To date, 247 Virginia companies have been accepted to participate in the VALET program. 

“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. “Since its inception in 2002, the program has worked with more than 230 businesses to accelerate their international sales growth. Because of the program’s proven success and because jobs are created when Virginia companies sell more into global markets, it is important that we continue to assist Virginia companies through the program. We are happy to welcome this company to VALET and look forward to working with them over the course of the next two years.”

Grandwatt Electric Corporation

Grandwatt (www.grandwatt.com) is a global manufacturer of portable light towers and generator sets available in various configurations. Whether a customer is looking for a light tower for the construction or mining industries or a stand by generator for emergency power, a home generator, portable power, industrial generator, or gas generator, Grandwatt Electric Corp will exceed their expectations.

The Virginia Economic Development Partnership

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.