Two Hampton Roads Companies 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 two Hampton Roads companies 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.
The new companies accepted into the program include ESRG Technology Group of Virginia Beach, and MYMIC, LLC of Portsmouth.
On the evening of January 15th, VEDP will celebrate the 10th anniversary of the award-winning VALET program at the Richmond Omni with graduates of the program, as well as current participants, the 21 private-sector Program Partners, and selected members of the General Assembly and economic development community. Ambassador of the Republic of Korea to the U.S. will serve as special guest speaker.
Currently, the VALET program has 50 companies as participants. The program provides participating companies assistance from the Commonwealth and from a team of experienced international service providers to help meet their international goals. These private sector service providers, such as attorneys, website designers, bankers, translators, accountants and freight forwarders contribute essential expertise to assist companies in executing their export initiatives.
These Virginia companies join the program as part of the 23rd class of the VALET program. 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 188 Virginia companies have been accepted to participate in the VALET program.
“The VALET program generates international sales for Virginia businesses,” said Paul Grossman, VEDP Vice President of International Trade. “Since its inception in 2002, the program has worked with more than 188 businesses to accelerate their international sales growth. 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 these 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.