Press Release: Virginia Companies Expand into Global Markets through Commonwealth’s Trade Accelerator Program

Jun 20, 2024 | Government Affairs, Press Releases

Commonwealth of Virginia

Office of Governor Glenn Youngkin

FOR IMMEDIATE RELEASE · June 20, 2024

CONTACTS:

Office of the Governor

Contact: Christian Martinez

Email: Christian.Martinez@governor.virginia.gov

 

Virginia Economic Development Partnership 

Contact: Nicole Hansen 

Email: nhansen@vedp.org  

 

Virginia Companies Expand into Global Markets through Commonwealth’s Trade Accelerator Program 

RICHMOND, VA— Governor Glenn Youngkin today announced that 11 companies across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) program and 14 companies have joined the two-year program. VALET, which now has 402 graduated companies, assists Virginia exporters that have firmly established domestic operations and are committed to international exporting as a growth strategy. 

“International trade is a critical part of the Commonwealth’s economy, and the VALET program provides invaluable resources to guide Virginia businesses seeking growth into the global marketplace,” said Governor Glenn Youngkin. “We congratulate these organizations that are taking the next steps toward international expansion, advancing Virginia’s economic growth throughout the Commonwealth.” 

“The VALET program has facilitated access to international markets for the diverse ecosystem of businesses and sectors in Virginia for more than twenty years, helping hundreds of Virginia companies successfully expand their international sales,” said Secretary of Commerce and Trade Caren Merrick. “This award-winning program can be transformational as a growth strategy and provides long-term economic benefits for these businesses and the Commonwealth as a whole.” 

 The graduating companies are: 

  • 22nd Century Technologies, Inc. (Fairfax County) 
  • Atkinson Aeronautics & Technology Inc (City of Fredericksburg) 
  • DTC Communications, Inc. (Loudoun County) 
  • Evolve Stone, Inc. (Frederick County)  
  • Global Dimensions LLC (Spotsylvania County) 
  • Harkness Screens USA Ltd (Botetourt County) 
  • Inorganic Ventures (Montgomery County) 
  • Integrated Global Services, Inc. (Chesterfield County) 
  • IPConfigure, Inc. (City of Norfolk) 
  • Packet Forensics, LLC (City of Virginia Beach) 
  • Rivanna Medical, Inc. (Albemarle County) 

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 52 companies participating in the VALET program and 455 Virginia companies have been accepted to participate in the program since its inception in 2002. 

The companies joining the VALET program include: 

  • BlueHalo (Arlington County) 
  • CargoSense (Fairfax County) 
  • Catalytic Generators (City of Norfolk) 
  • iMedical Healthcare Solutions (City of Virginia Beach) 
  • iMPREG (Chesterfield County) 
  • Innovative Wireless Technologies, Inc. (City of Lynchburg) 
  • Luna Labs (City of Charlottesville) 
  • MAC Aerospace Corporation (Fairfax County) 
  • Matheny Motor Truck Co. (City of Chesapeake) 
  • Merrick & Company (Chesterfield County) 
  • PRIVO (Fairfax County) 
  • Trijicon (Stafford County) 
  • Vectrona, LLC (City of Virginia Beach) 
  • VPT, Inc (Montgomery County) 

“When Virginia companies succeed abroad, it further cements the Commonwealth’s role as a key player in the global economy, and showcases the value of VEDP’s world-class VALET program,” said Jason El Koubi, VEDP President and CEO. “We are excited to see the outcomes that these Virginia businesses will accomplish—including significant trade-supported job creation in Virginia—because of their participation in this 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 13,000 jobs for Virginians. VEDP offers numerous programs to assist Virginia companies with selling into the global marketplace and has a network of international market research consultants covering 121 countries around the globe. 

The Virginia Economic Development Partnership was created by the Virginia General Assembly in 1995 to encourage, stimulate, and support the development and expansion of the economy of the Commonwealth. To accomplish its objectives of promoting economic expansion within the Commonwealth, the Partnership focuses its efforts on business recruitment, expansion, and international trade development. 

More information on the VALET Program is available here

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