Virginia Companies Increase Exports through Commonwealth’s Two-Year Business Acceleration Program

by Derley Aguilar | Aug 14, 2020
Montgomery County business, FoxGuard Solutions, Inc., among graduates of two-year international business acceleration program, Virginia Leaders in Export Trade (VALET).

RICHMOND—Governor Ralph Northam today announced that 10 companies across the Commonwealth have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) Program. VALET, which now has over 300 graduated companies, assists Virginia exporters that have firmly established domestic operations and are committed to international exporting as a growth strategy.

“Lending its proven, extensive set of resources to Virginia exporters, the VALET Program positions companies to thrive in the global marketplace,” said Governor Northam. “This program continues to be an important catalyst for driving export sales and private sector investment—and the Commonwealth’s economy is stronger as a result. We congratulate these 10 Virginia companies on the success they have achieved in the last two years, and their commitment to international growth during these unprecedented and challenging times.” 

The graduating companies are:

  • Dynamis, Inc., Fairfax County
  • FoxGuard Solutions, Inc., Montgomery County
  • Huntington Ingalls Industries Technical Solutions Division, City of Virginia Beach
  • Innerspec Technologies, Inc., Bedford County
  • Line Power, City of Bristol
  • New Ravenna Acquisition LLC, Northampton County
  • Parabon NanoLabs, Inc., Fairfax County
  • Spectra Quest Inc., Henrico County
  • STR Software Company, Chesterfield County
  • SYNEXXUS Inc., Arlington 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 45 companies participating in the VALET program. More information on the VALET Program.

“Virginia is one of the most competitive states in the nation for exporting, and VEDP’s International Trade team contributed greatly to our standing,” said Secretary of Commerce and Trade Brian Ball. “From Bristol to the Eastern Shore, it’s exciting to see such a diverse group of companies across the Commonwealth working to grow their international sales, which will bring jobs and capital investment in Virginia.”

“VEDP is committed to assisting Virginia companies in growing their international sales, which is more important than ever in this time of economic recovery,” said VEDP President and CEO Stephen Moret. “We are proud of the continued success of the VALET program and its participants, who not only experience sales growth while in the program, but also learn valuable lessons about pursuing international sales that they can carry forward. The impact of the jobs and investments these companies contribute in every region of the Commonwealth cannot be overstated.”

Virginia exports over $35 billion in goods and services annually. Exports of the Commonwealth’s products and services are critical to growth, supporting more than 257,000 jobs and generating $2 billion in annual tax revenue. VEDP offers numerous programs to assist Virginia companies with selling into the global marketplace and has a network of international market research consultants covering more than 70 countries around the globe.

Contacts:


Office of the Governor
Contact: Alena Yarmosky
Alena.Yarmosky@governor.virginia.gov

Virginia Economic Development Partnership
Contact: Suzanne Clark
sclark@vedp.org