10 Va. companies join VEDP’s export trade program

VALET program helps companies work on international export strategies

Published January 13, 2021 by Sydney Lake

The Virginia Economic Development Partnership (VEDP) announced Wednesday that 10 new companies have been accepted into its two-year Virginia Leaders in Export Trade (VALET) program, which helps companies work on international exporting growth strategies.

The VALET program helps Virginia companies to establish domestic operations for exports and encourages using international exporting as a growth strategy. During the two-year program, businesses learn international sales plan development services through trainings from international service providers, meetings with potential partners, educational events and market research. There are currently 46 companies participating in the VALET program. Since VALET’s inception, 368 Virginia companies have been accepted into the program.

These companies are joining the VALET program:

American K-9 Interdiction LLC, Isle of Wight County
BecTech, Alexandria
BluVector, Arlington County
Embody Inc., Norfolk
Har-Tru, Louisa County
IST Research, Fredericksburg
Kapsuun Group, Fairfax County
Moog Inc., Montgomery County
Morphix Technologies, Virginia Beach
TRU Ball/AXCEL Archery, Amherst County

Virginia exports more $37 billion in goods and services annually, supporting more than 257,000 jobs and generating $2 billion in annual tax revenue, according to VEDP.

“International trade is a critical driver of Virginia’s economy, including jobs and capital investment, and will be an important component of the commonwealth’s economic recovery efforts post-pandemic,” VEDP President and CEO Stephen Moret said in a statement. “We are thrilled that these Virginia companies have chosen to accelerate their international sales efforts via the VALET Program, and we look forward to putting our resources to work for their global success.”