Virginia companies increase international sales through Commonwealth’s premier exporting program
Gov. Ralph Northam announced that nine companies from across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) program.
The VALET program now has 276 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:
- Airborne Tactical Advantage Company, LLC (City of Newport News)
- Hardywood Park Craft Brewery LLC (City of Richmond)
- Integrated Textile Solutions, Inc. (City of Salem)
- Lessard Design International, LLC (Fairfax County)
- NewBold Corporation (Franklin County)
- Northern Defense Industries (NDI), Inc. (City of Alexandria)
- Sumitomo Machinery Corporation (City of Chesapeake)
- Tek Fusion Global, Inc. (James City County)
- Wolf Gourmet (Henrico County)
“We are thrilled to celebrate the nine companies graduating from the Virginia Leaders in Export Trade (VALET) program, which paves the way for businesses to grow internationally through access to top-tier resources, expertise, and technical assistance,” said Northam. “The Commonwealth has long been a global trade hub, and the Virginia Economic Development Partnership’s VALET program is one of our most powerful tools for expanding this legacy. We look forward to the future success of these Virginia businesses here in the Commonwealth and around the world.”
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, 325 Virginia companies have participated in the VALET program.
“VALET is a core component of VEDP’s efforts to help Virginia companies explore international markets and enhance the economic vitality of the Commonwealth,” said VEDP President and CEO Stephen Moret. “This award-winning program has made it possible for more than 300 homegrown businesses to successfully navigate the changing global marketplace and increase international sales, creating valuable trade and trade-related jobs and contributing meaningful growth to Virginia’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.
More information on the VALET Program is available here.