April 07, 1997

Jill Lawrence
(804) 371-0049
Virginia to Promote International Trade and Investment at World's Largest Industrial Trade Fair - Ha
-- State and Local Economic Development Professionals Build on 1996 Success --

Richmond - The Virginia Economic Development Partnership (VEDP) and economic development professionals across the Commonwealth will participate in Hannover Messe '97 to be held April 14-19 in Hannover, Germany. The Virginia delegation will promote international trade and investment by cultivating new contacts and export opportunities. Internationally respected as the world's largest industrial trade fair, Hannover Messe attracts more than 350,000 visitors from over 100 countries each year. This year marks the fair's 50th anniversary as a forum for the international business community.

Six graduate students will assist the Virginia delegation thanks to contributions from several corporate sponsors. The sponsors include: B.I. Chemicals, Inc., Petersburg; Betac International Corporation, Alexandria; Cardwell Machine Company, Richmond; E.I. Dupont DeNemours & Company, Inc., Martinsville; EMF EMI Control, Gainesville; Groendyk Manufacturing Company, Inc., Buchanan; Lear Corporation, Strasburg; Marion Mold & Tool, Inc., Marion; Mollins Richmond, Inc., Richmond; Siebe Appliance Controls, Richmond; Siemens Automotive Corporation, Newport News; Sorbilite, Inc., Virginia Beach; Specialty Blades, Inc., Staunton; and Virginia Semiconductor, Inc., Fredericksburg.

Economic development professionals from numerous Virginia regions and localities will be joining VEDP as part of the Virginia delegation. These professionals represent Stafford County, Spotsylvania County, the City of Suffolk, Chesterfield County, the City of Chesapeake, Lake Country Development Corporation, Forward Hampton Roads, Front Royal-Warren County Industrial Development Authority, Virginia Power and the Greater Richmond Partnership. Engineering Consulting Services of Chantilly will also accompany the delegation and Framatome Technologies of Lynchburg will directly promote their products and services at the Hannover Fair.

In 1996, thirty-three foreign-affiliated firms announced $1.2 billion in capital investment and 3,290 new jobs. These announcements originated from 10 different countries with Germany leading the way, followed by Japan and the United Kingdom. Topping Virginia's international investment list in 1996 was White Oak Semiconductor, a joint venture between Siemens AG and Motorola, Inc. Dongsung America Company also announced plans to locate a new manufacturing plant in the state, representing Virginia's first investment by a South Korean company.

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