Suzanne West Clark
Three Hampton Roads Companies Selected to Participate in Virginia’s VALET Program
-Two-year export program provides resources to support international business expansion-
RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of three Hampton Roads companies into its two-year Virginia Leaders in Export Trade (VALET) program: Airborne Tactical Advantage Company (ATAC) of Newport News; Sumitomo Machinery Corporation of America of the City of Chesapeake; and Tek Fusion Global, Inc. of the City of Williamsburg. These Virginia companies join the program as part of the 31st class of the VALET 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. To participate, each eligible business must meet several quantitative criteria and complete an application process. Participating firms are chosen based on their dedication to growing export sales. To date, 269 Virginia companies have been accepted to participate in the VALET program.
“The VALET program puts participating companies on the fast track to international business growth by connecting them with the necessary tools for successful export sales,” said Paul Grossman, Vice President of International Trade. “Since its inception in 2002, the program has worked with nearly 270 businesses to accelerate their international sales growth. We are happy to welcome these Hampton Roads companies to VALET and look forward to working with them over the course of the next two years.”
Currently, the VALET program has 48 companies as participants. New participants in the program have access to $30,000 in reimbursement funds from the Commonwealth of Virginia. The program provides participating companies with assistance from a team of experienced international service providers to help meet their international goals. These private sector service providers contribute essential expertise to assist companies in executing their export initiatives and include attorneys, web designers, bankers, translators, accountants and freight forwarders.
The Commonwealth of Virginia exports more than $35 billion in goods and services annually. Exports of Virginia’s products and services to the world are vital to the growth of the Commonwealth, supporting more than 230,000 jobs and generating $2 billion in tax revenue.
Airborne Tactical Advantage Company
Airborne Tactical Advantage Company, LLC (ATAC) is the U.S. leader in outsourced civilian, tactical airborne training services, to include live training for naval forces, and aviation squadrons. For over 20 years, ATAC has trained Navy, Marine, Air Force and Army crews in the dynamic environment of air combat training and attack. From five bases worldwide, including the Continental U.S., Hawaii and the Pacific, ATAC has trained the finest warfighters with over 44,000 hours of tactical flying support. ATAC is the only civilian organization approved to train the U.S. Navy's elite Fighter Weapons School, also known as "TOPGUN", and is the only civilian organization to operate supersonic fighter aircraft. To learn more about our Virginia based company, visit www.atacusa.com.
Sumitomo Machinery Corporation of America
Sumitomo Machinery Corporation of America is a wholly owned subsidiary of Sumitomo Heavy Industries, and part of the Sumitomo Group, one of the largest companies in Japan. The company is a leader in power transmission and gear design products. The company’s advanced engineering, project management, and state of art manufacturing have positioned the company to the #2 ranking in their industry.
Tek Fusion Global, Inc.
Tek Fusion Global (TFG) is a woman-owned small business that is a mission-focused, rapid solutions and capabilities provider comprised of a diverse team of experts in hardware engineering, software development, systems integration, program management and testing. TFG’s primary focus is integration of special mission systems onto civil and military aviation platforms.
Virginia Economic Development Partnership
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. 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, China, Japan, India and the United Kingdom.
For more information on the VALET Program, visit http://exportvirginia.org/valet-program/.