Recently, it was announced that eight companies across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) program. VALET, which now has more than 300 graduated companies, assists Virginia exporters that have firmly established domestic operations and are committed to international exporting as a growth strategy.
“The success of Virginia businesses both at home and abroad is key to maintaining strong, resilient state and local economies,” said Governor Northam. “The VALET program equips growth-minded companies with the resources they need to stay competitive in today’s global marketplace and expand trade opportunities in a post-pandemic world. I congratulate these eight graduates on their impressive export sales and remain confident that they will continue to contribute to the economic vitality of our Commonwealth in the years to come.”
VALET is a two-year international business acceleration program that provides participating companies with international sales plan development services, assistance from a team of experienced international service providers, international business meetings with potential partners, educational events, and customized market research. There are currently 48 companies participating in the VALET program and 378 Virginia companies have been accepted to participate in the program since its inception in 2002.
“VEDP’s VALET Program has had great success helping companies of all sizes expand into global markets,” said Secretary of Commerce and Trade Brian Ball. “VALET is an invaluable tool for existing businesses in Virginia, and we are excited about the current and future growth these eight companies will experience as a result of their time 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 international sales,” said VEDP President and CEO Stephen Moret. “Executed by VEDP’s world-class international trade team, the VALET program has a proven track record of helping Virginia businesses increase export sales, and we look forward to the continued global success of these graduating companies in the coming years, contributing to the Commonwealth’s economic growth.”
Virginia exports over $35 billion in goods and services annually. Exports of the Commonwealth’s products and services are critical to economic growth, supporting more than 257,000 jobs and generating $2 billion in annual 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 75 countries around the globe.
- Submitted by Alena Yarmosky, Office of the Governor
