Lynchburg Company Selected to Participate in Virginia’s VALET Program
-Two-year program provides resources to support international business -
RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a Lynchburg company, TRAX International, into its two-year Virginia Leaders in Export Trade (VALET) program. Launched in January 2002, the program assists exporters in the Commonwealth that have firmly established domestic operations and are committed to international exporting as an expansion strategy.
TRAX International joins the program as part of the 16th class of VALET companies. To participate, each eligible business must meet several quantitative criteria and complete an application process. Participating firms are chosen based on their dedication to growth through export. Currently, more than 100 Virginia companies have been accepted to participate in the VALET program.
TRAX International is a recognized leader among companies that deliver operations, management, and engineering services to the U.S. Government and commercial energy sectors. From its worldwide headquarters in Las Vegas, Nevada, TRAX International has expanded to 11 office locations throughout the world and has acquired an experienced staff of more than 1,800 employees. Delivered services cover the spectrum from on-site operations and management of test sites/facilities for the U.S. Department of Defense to management and execution of capital projects for clients in the power and petrochemical industries throughout the world. Gross revenues for fiscal year 2009 will exceed $200 million.
On behalf of the executive management team and employees of TRAX International, I would like to say that we are delighted and honored that TRAX has been selected to participate in the VALET program in 2009,” said John Kenney, Vice President Corporate Development. “Our application was submitted in light of new growth initiatives that we recently launched to expand our corporate presence and marketshare in Europe. We feel certain that our relationship with VEDP and resources offered through the VALET program will maximize our probability of success with our growth initiatives.”
The VALET program incorporates services from a team of experienced international service providers who assist the VALET companies with their international goals. Service providers such as attorneys, Web designers, bankers, translators and freight-forwarders contribute essential skills for expansion into international markets.
“VALET welcomes TRAX International into the program,” said Leslie Parpart, VALET Program Manager. “We look forward to working with its international team over the course of the next two years to assist the company in exceeding export goals.”
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. The Partnership is a state authority, which is governed by a 22-member Board of Directors appointed by the Governor and the Virginia General Assembly. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion and international trade. VEDP has offices in Virginia, Belgium, Hong Kong, Mexico and Japan.
To learn more about the VALET program, contact Leslie Parpart, VALET Program Manager, at LParpart@YesVirginia.org or visit the programs tab at www.ExportVirginia.org.