RICHMOND – Governor Terry McAuliffe announced today that AMTI Microwave Circuits, a Lynchburg-based, global provider of high performance microwave components, made new export sales to Canada through participation in a trade mission to Vancouver. The company worked with the Virginia Economic Development Partnership’s (VEDP) International Trade Division to sell its products to Vancouver-based D-Wave Systems, the world’s first quantum computing company. Canada was Virginia’s largest product export destination in 2015, with product exports totaling more than $3.4 billion.
“Our trade missions have a proven track record of helping Virginia companies grow and diversify their customer base,” said Governor McAuliffe. “AMTI is a great example of a Virginia business that expanded its clientele with the help of the Commonwealth’s outstanding trade programs. We will continue to look for new ways to facilitate international partnerships for businesses across the Commonwealth that are fundamental to diversifying and building a new Virginia economy.”
AMTI is a veteran-owned, global producer of sophisticated circuit boards, mixed technology boards and modules, and offers system integration and assembly of large cabinets. The company has manufactured products for the defense, aerospace, and high-reliability commercial industries, as well as the scientific and research communities, since 2003. D-Wave Systems, a privately-held company founded in 1999, is the recognized leader in the development, fabrication, and integration of superconducting quantum computers. AMTI, a July 2016 graduate of the Virginia Leaders in Export Trade (VALET) program, participated in a 2015 trade mission to Vancouver with VEDP, resulting in new sales.
“Virginia companies have products and services demanded throughout the world,” said Secretary of Commerce and Trade Maurice Jones. “AMTI, with the help of the Commonwealth’s international trade development programs, is winning in the global marketplace. Congratulations to AMTI! And thank you to the VEDP International Trade Division. These are the partnerships that create jobs for Virginians.”
“The trade mission through the VALET program was instrumental for improving AMTI Microwave Circuits RF Filter sales,” said Keith Mascher, Sales and Business Development at AMTI. “As a result of our trade mission to Vancouver, we rekindled our business relationship with D-Wave to design and build new RF Filters for D-Wave quantum computers. Without the VALET sponsored trip to Vancouver, this opportunity would not have happened. We thank the great folks working in the VALET program for helping our company increase sales revenue.”
Virginia’s award-winning VALET program assists companies throughout the state expand their international business. VALET offers a powerful combination of capital resources provided by the Commonwealth along with professional services from expert, private-sector partners. Each year, 25 qualifying companies ramp up their global marketing efforts through this comprehensive, two-year business acceleration program. On average, companies experience a 54% increase in international sales during and immediately following the program.
The Commonwealth of Virginia exported more than $36 billion in manufactured goods and services in 2014. Exports of Virginia’s products and services to the world are vital to the growth of the Commonwealth, with an economic impact to Virginia of more than $18.7 billion in labor income, $2 billion in tax revenue and the creation of nearly 321,000 jobs.