The Virginia Economic Development Partnership (VEDP) today announced that several Virginia defense companies are touting business success following participation in the 2015 Canadian Defense, Security and Aerospace Exhibition Atlantic (DEFSEC Atlantic) that took place September 8-10 in Halifax, Nova Scotia, Canada. One Virginia company received a purchase order, a second company is awaiting issuance of a request for proposal, and a third company is finalizing their market presence in Canada. DEFSEC Atlantic is a major networking opportunity for the aerospace, defense and security industries—the second largest of its kind in Canada. VEDP led the Virginia delegation that included Aeroprobe; Button-Lok; Command Post Technologies; Huntington Ingalls Industries; Nova Power Solutions, Inc.; Phoenix Group of Virginia, Inc.; Prevailance; SIMIS, Inc.; and Vandeventer Black, LLC.
DEFSEC Atlantic 2015 had the highest number of exhibitors and attendees since its inception in 2006. VEDP attended for the third year with its largest delegation to date, and partnered with the Halifax Partnership and the Atlantic Chapter of the American Chamber of Commerce in Canada (AmCham Atlantic) to secure meetings for the Virginia participants with high-ranking business officials during the exhibition. VEDP also hosted a VIP reception after the show with key business multipliers.
“AmCham was very pleased to welcome the professional and dynamic VEDP delegation to Halifax to pursue defense and security supply chain opportunities in Canada,” said David Gough, Chair, AmCham Atlantic. “Rarely have we seen such a well-prepared and targeted state delegation eager to pursue cross-border opportunities. They represented Virginia well.”
Seven of the companies are participants in Virginia’s Going Global Defense Initiative (GGDI), the Commonwealth’s only program that replaces U.S. Department of Defense revenue streams for Virginia’s defense companies, which in turn preserves jobs and replaces declining state tax revenues for Virginia.
Now in its third year, the DOD has granted $1.8 million for GGDI to assist Virginia’s defense-related companies that have been adversely affected by defense budget reductions. Virginia’s support of GGDI is made possible by Governor McAuliffe’s recent funding of the Virginia International Trade Alliance (VITAL), announced in July 2015 and managed by VEDP. VITAL’s goals are to increase Virginia’s exports by $1.6 billion and to create 14,000 trade-supported jobs over the next five years.
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. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP offers numerous programs to assist Virginia companies sell into the global marketplace.