Charlottesville Company Selected to Participate in Virginia’s VALET Program
-Two-year program provides resources to support international business-
RICHMOND - The Virginia Economic Development Partnership (VEDP) today announced the acceptance of a Charlottesville company, Frontline Test Equipment, Inc., 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.
Frontline Test Equipment joins the program as part of the 11th class of VALET companies. To participate, each eligible business must meet several quantitative criteria and complete an application process. Participating firms are chosen based on their dedication to growth through export. Currently, 86 Virginia companies have been accepted to participate in the VALET program.
Frontline is a U.S.-based protocol analyzer software company. The product line includes data communications analyzers in wired and wireless applications for developers of communications equipment and the management of communications networks. Since 1988, more than 30,000 units have been sold worldwide.
“Frontline looks forward to utilizing the VALET Program to jumpstart international sales of our industrial communications analyzers,” said Bill Drake, Director of Operations. “Resources available through the VALET program will help Frontline develop an international sales channel with minimum risk and maximum results. We expect this program to enable growth in revenue, profits and hiring.”
The VALET program incorporates services from a team of experienced international service providers who assist the VALET companies with their international goals. Service providers such as attorneys, Web designers, bankers, translators and freight-forwarders contribute essential skills for expansion into international markets.
“VALET welcomes Frontline Test Equipment into the program,” said Leslie Parpart, VALET Program Manager. “We look forward to working with its international team over the course of the next two years to assist the company in exceeding export goals.”
The VALET program was recognized as a national model in November 2004 by the National Council for Public-Private Partnerships (NCPPP) for VALET’s innovation in bringing the public and private sectors together to achieve a benefit for the public. The VALET program was the only winner of the 2004 NCPPP Public-Private Partnership Award in the Innovation category.
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. The Partnership is a state authority, which is governed by a 21-member Board of Directors appointed by the Governor and the Virginia General Assembly. 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, Belgium, Hong Kong, Mexico, Brazil, Korea and Japan.
To learn more about the VALET program, contact Leslie Parpart, VALET Program Manager, at LParpart@YesVirginia.org or visit the programs tab at www.ExportVirginia.org.