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

Governor Ralph Northam recently announced that seven companies have graduated from the Virginia Economic Development Partnership’s (VEDP) Virginia Leaders in Export Trade (VALET) Program. VALET, which now has more than 300 graduated companies, assists Virginia exporters, with firmly established domestic operations and are committed to international exporting as a growth strategy.

Two Arlington-based companies were among the recent graduates, Cambridge International Systems and Fonteva.

Cambridge International Systems, Inc. designs and delivers innovative and adaptive solutions to address capacity-building needs and enable success. For more than 25 years, Cambridge has been fighting “bad actors” in both the cyber and physical worlds. Cambridge works in some of the most challenging domains imaginable, including critical infrastructure, illicit trafficking, border security, flight mission assurance, banking and threat finance, and medical and health security.

Fonteva provides membership, event and eCommerce software built on the Salesforce platform. It delivers highly configurable software that grows and strengthens the relationships within organizations. Fonteva was recently acquired by Togetherwork, the leader in integrated software and payments for managing communities, groups and organizations.

“In today’s challenging and uncertain business environment, Virginia companies need support to identify new customers and navigate global markets,” said Governor Northam. “The VALET Program’s tools and expertise continue to help Virginia exporters drive sales, which are an important economic engine for the Commonwealth. We applaud these seven businesses for their commitment to international growth and their achievements in Virginia and abroad.”

The seven graduating companies from the VALET program include:

  • Atomized Products Group of Chesapeake, City of Chesapeake
  • Biomic Sciences, Albemarle County
  • Cambridge International Systems, Arlington County
  • Diamond Healthcare Corporation, City of Richmond
  • ExploreLearning, City of Charlottesville
  • Fonteva, Arlington County
  • Sentry Equipment & Erectors, Bedford 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 46 companies participating in the VALET program.

“Now more than ever, exports are essential to the Commonwealth’s economy, and VEDP’s world-class international trade services like the VALET Program are a vital resource for Virginia companies looking to expand internationally,” said Secretary of Commerce and Trade Brian Ball. “These businesses have set their sights on international success and we are excited about the results they have achieved thus far, as well as the future growth they will experience as a result of this program.”

“VEDP’s commitment to assisting Virginia companies in pursuing growth through increased international sales is even stronger as we identify a path to economic recovery,” said VEDP President and CEO Stephen Moret. “Export sales drive employment and capital investment in the Commonwealth, and we are proud that a proven program like VALET is available to help Virginia businesses capitalize on global opportunities and position them for success for many years to come.”

Virginia exports over $37 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. 

Learn more about the VALET Program.

Topic: Economic Update
 
Copyright © 2021 Arlington Economic Development