Suzanne West Clark
City of Richmond Company 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 a City of Richmond company, Hardywood Park Craft Brewery LLC, 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. Participating firms are chosen based on their dedication to growing export sales.
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 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 Harydwood to VALET and look forward to working with them over the course of the next two years.”
Hardywood joins the program as part of the 31st class of the VALET program. To participate, each eligible business must meet several quantitative criteria and complete an application process. To date, 269 Virginia companies have been accepted to participate in the VALET program.
“We’re excited to be a part of the VALET program and think it will assist us in entering into some select, targeted international markets,” said Eric McKay, who along with Patrick Murtaugh, co-founded the brewery in 2011. “We have benefitted greatly from the support of the State and view this as a good next step in our partnership, to expand the sale of our beers and Virginia products across the world.”
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.
Hardywood Park Craft Brewery, LLC
Hardywood Park brews and sells a range of craft beers, distributing across Virginia, in Washington DC, and in Eastern Pennsylvania. With the addition of capacity at a second brewery, due to open in Goochland County later in 2017, Hardywood plans to expand distribution, both domestically and internationally.
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/.