Virginia Economic Development Partnership Announces Graduates and New Participants of VALET Program

Virginia's international business scene has continued to thrive, as Governor Glenn Youngkin announced the graduation of 13 companies from the Virginia Economic Development Partnership's (VEDP) Virginia Leaders in Export Trade (VALET) program. These companies, who have firmly established domestic operations and are committed to international exporting as a growth strategy, will now have access to international sales plan development services, assistance from experienced international service providers, and customized market research. Alongside the graduation ceremony, 13 new companies joined the two-year program, which has a proven track record of helping Virginia businesses break into international markets and boost their global sales.

Key Takeaways:

• 13 companies have graduated from the VALET program, which has produced over 425 graduates since its inception.
• The graduating companies are: Atlas Systems, Inc., Bauer Compressors, Inc., Best Medical International, Inc., Cloth and Paper, DeepSig Inc., EIT 2.0 LLC, FDP Virginia, Inc., Nokia Federal Solutions, Inc., Icarus Medical Innovations, Sentry Products Group, Simmons Equipment Company, Solid Stone Fabrics, and Uttermost.
• 13 new companies have joined the VALET program, aiming to enhance their international exporting capabilities.
• The companies joining the program include Ashworth Bros., Inc., Aspetto, Inc., Becker Global America, BMZ USA Inc., Building Momentum LLC, GCAPS, Grenova, Oceaneering International, Paramount Sleep, Pavion Corp, Rappahannock River Oysters, Sachin Steel, Inc., and Universal Companies, Inc.
• VALET provides participating companies with international sales plan development services, assistance from experienced international service providers, and customized market research.
• The program has a proven track record of helping Virginia businesses grow beyond U.S. borders, delivering meaningful economic impact for communities across the Commonwealth.

Statistics:

• 425 companies have graduated from the VALET program since its inception.
• 58 companies are currently participating in the program.
• Virginia exports $70 billion in goods and services annually.
• VEDP International Trade supports 500 existing Virginia companies in their international business development efforts each year.
• Last year, these companies attributed $1.5 billion in international sales to VEDP's assistance, and these sales supported over 13,700 jobs for Virginians.

Sources:

• "Governor Youngkin Announces Recent Graduates and New Participants of the VALET Program." Virginia Economic Development Partnership.
• "VALET Program." Virginia Economic Development Partnership.
• "VEDP Fact Sheet." Virginia Economic Development Partnership.