Suzanne West Clark
Tazewell 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 Tazewell County company, The PBE Group, into its two-year Virginia Leaders in Export Trade (VALET) program as part of the 32nd class. 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, 291 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, VEDP Vice President of International Trade. “Since its inception in 2002, the program has worked with more than 290 businesses to accelerate their international sales growth. We are happy to welcome The PBE Group to VALET and look forward to working with them over the course of the next two years.”
Currently, the VALET program has 50 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 export planning services and 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. VEDP offers numerous programs to assist Virginia companies with selling into the global marketplace and has a network of international market research consultants covering more than 70 countries around the globe.
The PBE Group
The PBE Group, founded over 45 years ago as Pyott Boone Electronics, is now a global heavy industries technology company, unique in the vertical integration of its engineered solutions. Serving multiple markets including mining, tunneling and construction, The PBE Group is unparalleled in its range of internally designed and manufactured safety, communications and productivity systems. For more information, please visit www.pbegrp.com.
Virginia Economic Development Partnership
The Virginia Economic Development Partnership 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.
For more information on the VALET Program, visit http://exportvirginia.org/valet-program/.