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News & Press: 2018 Economic Development News

Virginia Companies Increase International Sales through Commonwealth’s Premier Exporting Program

Wednesday, July 11, 2018  
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Virginia Companies Increase International Sales through Commonwealth’s Premier Exporting Program

 

~ Thirteen Virginia companies recognized for completing two-year international business acceleration program ~

 

RICHMOND—Governor Ralph Northam today announced that 13 companies from across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) Program. The graduating companies increased international sales by an average of 82 percent during their two years in the program. The VALET program now has 267 graduates. The VALET program assists Virginia exporters that have firmly established their domestic operations and are committed to international exporting as a growth strategy.

The graduating companies recognized during an event in Richmond today include:

  • Cape Henry Associates, Inc. (City of Virginia Beach)
  • Chenega International Consulting (Fairfax County)
  • First Line Technology (Fairfax County)
  • Frontier Technology, Inc. (City of Chesapeake)
  • InCadence Strategic Solutions (Prince William County)
  • IntelliDyne (Fairfax County)
  • Longwall Associates, Inc. (Smyth County)
  • NOVA Power Solutions (Loudoun County)
  • Old Mansion Foods (City of Petersburg)
  • Reline America, Inc. (Smyth County)
  • Summit Helicopters, Inc. (City of Roanoke)
  • Tactical Walls (Page County)
  • Zenith Aviation (City of Fredericksburg)

“The Virginia Leaders in Export Trade program helps companies of all sizes expand into global markets, positioning our existing businesses for growth and significantly contributing to the Commonwealth’s economic vitality,” said Governor Northam. “Virginia is an ideal international gateway—offering a strategic East Coast location, sophisticated logistics infrastructure, and unique assets like the Port of Virginia—and VALET provides the critical tools and expertise for participants to navigate new markets and successfully export products overseas. We congratulate these 13 Virginia companies on their impressive growth, and applaud the Virginia Economic Development Partnership for facilitating this impactful program.”  

Currently, the VALET program has 49 companies as participants. The program provides participating companies assistance from a team of experienced international service providers to help meet their international goals. To date, 316 Virginia companies have participated in the VALET program.

“Increasing trade and trade-related jobs in Virginia are among VEDP’s top priorities,” said VEDP President and CEO Stephen Moret. “Executed by VEDP’s world-class International Trade team, the VALET program has a proven track record of providing participating companies with the tools and insights necessary for successful export sales. We expect that the Virginia companies graduating today will see continued global success in the coming years, contributing meaningful growth to the Commonwealth’s economy.”

The Commonwealth of Virginia exports more than $35 billion in goods and services annually. Exports of Virginia’s products and services to the world are vital to the growth of the Commonwealth, supporting more than 257,000 jobs and generating $2 billion in annual tax revenue. VEDP offers numerous programs to assist Virginia companies with selling into the global marketplace and has a network of international market research consultants covering more than 70 countries around the globe.

The Virginia Economic Development Partnership was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion, and international trade development.

For more information on the VALET Program, visit http://exportvirginia.org/services/programs-grants/.

 

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