Governor Terry McAuliffe recently announced that nine companies from across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) Program, touting impressive results from their newly acquired tools to successfully export products and services overseas. These companies increased their international sales by an average of 50 percent during their two years in the program. The VALET program now has 269 graduates.
The graduating companies were recognized during an event in Richmond today and include ComSonics Inc. (City of Harrisonburg), Command Post Technologies Inc. (City of Suffolk), Germane Systems and IMCI Technologies (Fairfax County), Prevailance Inc. (City of Virginia Beach); Regional Conveyor Systems Inc. (City of Salem), Steel Fab (Russell County), sweetFrog (Chesterfield County), and Wako Chemicals USA (City of Richmond).
“My administration is committed to helping existing Virginia businesses succeed in the international marketplace, making our economy even stronger,” said Governor McAuliffe, speaking about the announcement. “International trade is a key part of my strategic plan to spur private sector job creation and build a new Virginia economy, and the VALET program has been an important catalyst for that private sector growth. I want to congratulate the graduating companies on their success and thank the VALET team for its efforts to help these companies expand.”
Launched in January 2002, the VALET program assists exporters in the Commonwealth that have established firmly their domestic operations and are committed to international exporting as an expansion strategy. Participating firms are chosen based on their dedication to growth through export.
“The VALET program puts participating companies on the fast track to international business growth by providing them with the necessary tools for successful export sales,” said Virginia Secretary of Commerce and Trade Todd Haymore. “The companies graduating this month have put in a tremendous amount of work and demonstrated their commitment to international expansion by taking advantage of the full range of resources offered by the VALET program. That work has paid off, and I am confident that they will continue to see a return on their investment in the coming years.”
Currently, the VALET program has 48 companies as participants. The program provides participating companies assistance from a team of experienced international service providers to help meet their international goals. To date, nearly 270 Virginia companies have participated in the VALET program.
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.
For more information on the VALET Program, visit http://exportvirginia.org/valet-program/.