Loudoun County Company Selected to Participate in Virginia’s VALET Program

RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a Loudoun County company, NOVA Power Solutions, Inc. 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 $30,000 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.

This Virginia company joins the program as part of the 30th class of the VALET program. To participate, each eligible business must meet several quantitative criteria and complete an application process. To date, 260 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.”

NOVA Power Solutions, Inc., is a leading supplier of high quality power protection products, including mission-critical rugged uninterruptible power supplies (UPS), power conditioners, and battery backups. Over 40,000 of NOVA Power’s units are successfully deployed worldwide in tough environments.

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, Mexico, Japan, India and the United Kingdom.

To learn more about the VALET program, visit www.ExportVirginia.org.