The Virginia Leaders in Export Trade (VALET) program announced 11 graduates on Wednesday, the culmination of a two-year program to help Virginia companies launch into international markets.
“The success of Virginia businesses both at home and broad is key to maintaining a strong and resilient economy,” Governor Glenn Youngkin said in a Virginia Economic Development Partnership (VEDP) press release.
“The VALET program equips companies in Virginia with the resources they need to enter today’s global marketplace and increase trade opportunities for Virginia products. I congratulate these 11 graduating Virginia companies on their impressive export sales and am confident that their international success will contribute to the economic vitality of our Commonwealth in the years to come.”
VEDP says so far 350 companies have graduated from VALET, begun in 2002. The program provides companies with international sales plan development services, assistance from international service providers, customized research, and educational events. Currently, 50 companies are participating in the program.
On Thursday, VEDP also announced that 11 new companies have been accepted into the program after meeting certain selection criteria.
“The VALET program positions Virginia businesses for success utilizing a proven combination of knowledge and resources to catalyze global sales,” VEDP President and CEO Jason El Koub said in the Wednesday press release. “International trade makes companies stronger, more resilient, and more competitive in the global marketplace, and VALET is a critical vehicle to facilitate connections. We look forward to many more years of global success for these VALET program graduates.”
Virginia’s annual exports are worth more than $35 billion, support 257,000 jobs, and generate $2 billion in Virginia tax revenue, according to VEDP.
“VEDP’s VALET program continues to have tremendous results helping Virginia businesses of all sizes expand into global markets,” Secretary of Commerce and Trade Caren Merrick said in the release. “International trade fuels the economy and VALET is an invaluable tool that enables companies to develop increased revenues, and we are excited about the growth these graduates will experience as a result of their time in the program.”
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