Suzanne West Clark
Franklin County 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 Franklin County company, NewBold Corporation, 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 their 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.
NewBold 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.
“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 NewBold Corporation to VALET and look forward to working with them over the course of the next two years.”
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.
Founded in 1994, NewBold Corporation is a leading U.S. manufacturer of an extensive line of blank plastic cards used for gift cards, loyalty cards, access control ID badges and driver’s licenses. NewBold’s Addressograph division is a manufacturer of metal plate embossing systems, plastic cards embossing systems, and manual/electric card imprinters.
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/.