RICHMOND – Governor Terry McAuliffe today announced that eleven companies from across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) Program, touting impressive results from their newly acquired tools to successfully export products and services overseas. These companies increased their international sales by an average of 78 percent during their two years in the program, which was completed at the end of June. The VALET program now has 241 graduates.
The graduating companies were recognized during an event in Richmond today and include: ACI Solutions (Arlington County), ANAB (City of Alexandria), AvMET and PIXIA Corp (both of Fairfax County), ITAC (Chesterfield County), Marion Mold and Tool (Town of Marion), Phoenix Group (City of Chesapeake), Qubica AMF (Hanover County), Radio Reconnaissance Technologies (City of Fredericksburg), Regulus Global (City of Virginia Beach), and Wegmann USA (City of Lynchburg).
“International trade is a key part of my administration’s strategy to spur private sector job growth and build a new Virginia economy,” said Governor McAuliffe. “We are committed to helping existing Virginia businesses succeed in the international marketplace, creating private sector jobs and making our economy even stronger. I want to congratulate these eleven companies on their success and thank the VALET team at VEDP for helping these companies expand.”
The VALET program assists exporters in the Commonwealth that have firmly established their domestic operations and are committed to international exporting as an expansion strategy. Participating firms are chosen based on their dedication to growth through export.
“The VALET program has a proven track record of providing participating companies with the necessary tools for successful export sales,” said Secretary of Commerce and Trade Todd Haymore. “With a tremendous amount of work and commitment to international expansion, the companies graduating today have increased their sales by 78 percent in just two years. I look forward to seeing their continued return on investment in the coming years.”
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, 291 Virginia companies have participated in the VALET program.
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 230,000 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.
VEDP 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.
For more information on the VALET Program, visit http://exportvirginia.org/valet-program/.