State Program Graduates 11 Virginia Companies Ready for Export; Accepts another 11 Virginia Companies in New Class
-Two-year program provides resources to support international business-
RICHMOND - Eleven companies from across the Commonwealth 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.
VEDP also announces the acceptance of 11 Virginia companies into the two-year 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. Participating firms are chosen based on their dedication to growth through export.
July’s 11 graduating companies include BDI of Fairfax County; BOSH Global Services of Newport News; Delta Pure Filtration of Hanover County; Identification International, Inc. of Blacksburg; Shibuya Hoppmann Corporation of Culpeper County; SSB Bart Group of Fairfax County; Syntronics LLC of Stafford County; Timber Truss Housing Systems, Inc. of Salem; Universal Companies, Inc. of Abingdon; Valkyrie Enterprises, LLC of Virginia Beach and W R Systems, Ltd. of Norfolk. Collectively, these companies have increased their international sales by more than 17 percent during their two years in the Program. The VALET program now has 124 graduates.
The new companies accepted into the program include Aeroprobe Corporation of Blacksburg; The C.F. Sauer Company of Richmond; Donoma Software of Bedford County; Dr. Lucy’s, LLC of Norfolk; Ideal Innovations, Inc. of Arlington; Infilco Degremont, Inc. of Richmond; Massimo Zanetti Beverage USA of Portsmouth; Neuman Aluminium Impact Extrusion, Inc. of Waynesboro; Tracen Technologies, Inc. of Manassas; Vehicle Control Technologies, Inc. of Fairfax County and Vitatech Electromagnetics, LLC of Stafford County.
These Virginia companies join the program as part of the 22nd class of the VALET Program. To participate, each eligible business must meet several quantitative criteria and complete an application process. Currently, the VALET program has 50 companies as participants. New participants in the program 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 meet their international goals. Private sector service providers such as attorneys, web designers, bankers, translators and freight forwarders contribute essential expertise to assist companies in executing their export initiatives. To date, more than 174 Virginia companies have been accepted to participate in the VALET program.
“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 increased their international sales as a result. This class 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. Because of the program’s proven success and because jobs are created when Virginia companies sell more into global markets, it is important that we continue to assist Virginia companies through the program. We are happy to welcome our 11 new companies to VALET and look forward to working with them over the course of the next two 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. The Partnership is a state authority, which is governed by a 25-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, India and the United Kingdom.
To learn more about VALET program, visit www.ExportVirginia.org.