Virginia companies increase international sales through Commonwealth’s premier exporting program
Governor Ralph Northam announced that 13 companies from across the Commonwealth have graduated from the Virginia Leaders in Export Trade (VALET) Program, touting impressive results as they successfully exported products and services overseas.
The VALET program, run by the Virginia Economic Development Partnership (VEDP), assists exporters in the Commonwealth that have firmly established their domestic operations and are committed to international exporting as a growth strategy. The graduating companies increased international sales by an average of 26 percent during their two years in the program. The VALET program now has 254 graduates.
“As we work to diversify our economy, helping Virginia businesses expand into international markets is more important than ever,” said Governor Northam. “VALET is an invaluable program that connects companies of all sizes to the tools they need to enter the global marketplace and export successfully. I congratulate these 13 Virginia companies on their impressive success, and thank the VALET team at the Virginia Economic Development Partnership for the guidance and expertise that ultimately enhances the Commonwealth’s economic vitality.”
The companies recognized during an event in Richmond today include 22nd Century Technologies, Inc. (Fairfax County), Apptech Solutions (Roanoke County), Eiden Systems Corporation (Albemarle County), Global Sales, Inc. (City of Chesapeake), Grandwatt Electric Corp (City of Suffolk), Magnets USA (City of Roanoke), Nedia Enterprises, Inc. (Loudoun County), New Century U.S. (Arlington County), Quality Transportation Services, Inc. (Hanover County), RMGS, Inc. (City of Virginia Beach), TASC Management Corporation (Loudoun County), Technologists Inc. (Arlington County), and TREX Company, Inc. (Frederick County).
Currently, the VALET program has 50 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, 304 Virginia companies have participated in the VALET program.
“VALET has provided a vehicle for participating companies to reach global markets and grow their business on a global scale since 2002,” said VEDP President and CEO Stephen Moret. “The benefit of international trade to Virginia’s economy cannot be overstated, and I am confident that with a continued commitment to exporting, these graduating businesses will see a strong return on investment in the coming years.”
The Commonwealth of Virginia exports more than $34 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 232,000 jobs and generating $2 billion in 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, VEDP focuses its efforts on business recruitment, expansion and international trade.
For more information on the VALET Program, visit http://exportvirginia.org/services/programs-grants/