Virginia Economic Development Partnership : State Program Graduates 12 Virginia Companies Ready for Export Two-year program provides resources to support international business

RICHMOND
- Twelve companies from across the Commonwealth 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. The graduating companies were recognized by Governor McAuliffe during a luncheon at the downtown Omni Hotel today.

The graduating companies include Momentum Aviation Group (MAG) of Prince William County; Applied Information Services, DreamPak LLC, and MCR LLC, all of Fairfax County; Analytics Corporation of Hanover County, Dominion Voltage Inc. of the City of Richmond; Alliance Solutions Group Inc. of Newport News; Damascus Corporation of Washington County; Indoor Biotechnologies Inc. of Albemarle County; Osen Hunter Group Inc. of Greene County; Parker Systems Inc. of the City of Chesapeake; and QualiChem Inc. of Roanoke County.

These companies increased their international sales by an average of 48 percent during their two years in the program. The VALET program now has 247 graduates.

'VALET is a great program that helps Virginia businesses find markets outside of the Commonwealth and the country, which is a key business expansion strategy,' said Virginia Secretary of Commerce and Trade Maurice Jones. 'I congratulate these graduates and thank VEDP for its work on this incredibly important 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. 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 connecting them with the necessary tools for successful export sales,' said Paul Grossman, VEDP Vice President of International Trade. '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, in the form of increased sales and new international partnerships, and I am confident that they will continue to see a return on their investment in the coming years.'

Currently, the VALET program has 49 companies as participants. New participants in the program have access to $15,000 in reimbursement funds from the Commonwealth. The program provides participating companies assistance from a team of experienced international service providers to help meet their international goals. Private sector service providers such as attorneys, web designers, bankers, translators and freight forwarders contribute essential expertise to assist companies in executing their export initiatives. To date, 245 Virginia companies have been accepted to participate in the VALET program.

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 24-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, United Kingdom, Germany, India, China, and Japan.