Blacksburg 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 Blacksburg company, Moog Components Group, 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.
Moog Components Group joins the program as part of the 12th 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, more than 90 Virginia companies have been accepted to participate in the VALET program.
Moog Components Group is an innovative motion company that specializes in the design and manufacture of slip rings, motors, drives, resolvers, solenoids and air moving solutions. The company has related capabilities for avionic instruments and fiber optic products.
"Over the past 50 years, Moog Components Group has solidified its position as the forerunner in domestic motion control markets,” said John Wood, Trade Compliance Specialist. “With a commanding share of the U.S. market, continued growth at targeted rates cannot be achieved without increased sales internationally. Through use of VALET resources, we anticipate expansion of our international market presence beyond what would be possible through our endeavors alone. VALET programs featuring cultural training, marketing tools and foreign language abilities provide strong complements to our existing international strategies, the synergy of which we expect to produce exciting results."
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 Moog Components Group 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.