Photo courtesy CoStar Group
A new class of export-ready companies is helping push Virginia deeper into global markets through a nationally recognized international trade accelerator led by the Virginia Economic Development Partnership.
Fourteen Virginia businesses have graduated from the Virginia Leaders in Export Trade (VALET) program, while 12 additional firms have been admitted to the competitive, two-year export acceleration initiative. With this latest cohort, the program has now graduated 439 companies statewide, underscoring Virginia’s long-term strategy of turning established domestic firms into globally competitive exporters.
Governor Abigail Spanberger positioned the announcement as part of a broader push to strengthen economic resilience through international market access.
“International trade has always been a key driver of Virginia’s economic growth,” Spanberger said. “By expanding global sales opportunities for Virginia companies, we are reinforcing the Commonwealth’s long-term competitiveness and helping businesses navigate shifting trade conditions.”
Exporting as an Economic Development Strategy
Unlike traditional recruitment-focused incentives, VALET targets existing Virginia companies with proven domestic success and helps them scale internationally. Participating firms receive customized export plans, market intelligence, introductions to vetted international partners, and hands-on support from global trade specialists.
The results have been significant: companies completing the program report an average 78% increase in international sales.
From an economic development perspective, export growth delivers high-value returns:
- Revenue diversification beyond domestic markets
- Increased production demand at in-state facilities
- Higher-wage, trade-supported jobs
- Stronger regional supply chain activity
Virginia currently exports roughly $75 billion in goods and services annually. Companies assisted through VEDP’s international trade efforts generated $2.3 billion in attributed global sales last year alone, supporting more than 20,900 Virginia jobs.
Statewide Impact Across Industries and Regions
The newly graduated companies span advanced manufacturing, aerospace, life sciences, technology, and industrial products, reflecting the Commonwealth’s diversified economy. The newest class entering the program in 2026 includes firms ranging from aviation and IT services to specialty foods and forest products.
Secretary of Commerce and Trade Carrie Chenery called the program a long-term economic multiplier.
“For more than two decades, this initiative has delivered strong ROI for the Commonwealth while helping Virginia companies win business around the world,” Chenery said. “It reinforces Virginia’s position as a national leader in international trade.”
VEDP President and CEO Jason El Koubi emphasized that export acceleration complements the state’s broader recruitment and expansion strategy.
“Helping Virginia companies grow globally boosts export sales and supports job creation here at home,” El Koubi said. “These firms become ambassadors for Virginia’s business climate in markets around the world.”
Building a Global Pipeline from Local Strengths
Currently, 56 companies are active participants in the VALET pipeline. The program connects them to a global network of research consultants and trade resources covering more than 120 countries, giving even mid-sized regional firms access to market intelligence typically reserved for multinational corporations.
For communities across the Commonwealth, the model demonstrates how export-focused economic development can:
- Expand the reach of local manufacturers and service providers
- Attract foreign direct investment through established trade relationships
- Increase utilization of ports, logistics hubs, and distribution assets
- Strengthen workforce demand in tradable sectors
As global competition intensifies, Virginia’s export accelerator approach is helping locally rooted companies become international players—driving new revenue into the state without requiring new greenfield recruitment.
In an era where resilience and diversification are economic priorities, Virginia’s trade strategy is turning established homegrown businesses into engines of global growth.
