FOR IMMEDIATE RELEASE
July 20, 2011



Suzanne West
VEDP
(804) 545-5806
State Program Prepares Six Virginia Companies for Export
-VALET program graduates another class-


RICHMOND - Six companies from across the Commonwealth will graduate Thursday from VEDP’s Virginia Leaders in Export Trade (VALET) program, touting impressive results from their newly acquired tools to successfully export products and services overseas. The graduating companies will be recognized during a noon luncheon at the downtown Omni Hotel.

The six companies include Cableform, Inc. of Troy; Inorganic Ventures of Christiansburg; K2M, Inc. of Leesburg; Trax LLC of Lynchburg; The Uttermost Company of Rocky Mount; and Tactical & survival Specialties, Inc. of Harrisonburg. Collectively, these companies have increased their international sales by more than 120 percent during their two years in the program.

Launched in January 2002, the VALET program assists exporters in the Commonwealth that have firmly established 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 now has 108 graduates.

“The VALET program accelerates the development of international business by connecting companies with the practical tools needed for successful export sales,” said Paul Grossman, VEDP Director of International Trade and Investment. “These graduating companies have utilized all of the resources of the VALET program and have really challenged themselves to grow their international businesses. This class of companies worked extremely hard during a very tough international climate, and I am confident that they will see the return on their investment for years to come.”

Currently, the VALET program has 46 companies as participants. Because of the proven results of the program’s graduates, the VALET program will continue to expand to work with more Virginia companies over the course of the next six months. In addition, new participants in the program will have access to $15,000 in reimbursement funds from the Commonwealth. The program provides participating companies assistance from a team of experienced international service providers to help them meet their international goals. Private sector service providers such as attorneys, Web designers, bankers, translators and freight forwarders contribute essential expertise for expansion into international markets.

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, Shanghai, Mexico, Japan and the United Kingdom.

To learn more about VALET program, visit www.ExportVirginia.org.

VIRGINIA ECONOMIC DEVELOPMENT PARTNERSHIP

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