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News & Press: VABIO News

Greater Richmond Export Initiative Set to Kick Off

Wednesday, May 21, 2014  
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In 2012, Richmond Region’s exports accounted for 6.8% of the regional economy, the value of which was $6.2 Billion. This lags behind the national average of 13.2% despite the region’s dynamic industry mix, talented workforce, and intermodal access. A new initiative for the region’s existing businesses will work to change that.

 

On June 12, the Greater Richmond Partnership (GRP) will publically launch the Greater Richmond Export Initiative (GREI) with a Kick-Off Conference at the University of Richmond.  Joining forces with local government partners (Chesterfield, Hanover, and Henrico Counties and the City of Richmond) the Partnership will spend the next few years growing the pipeline between companies with export potential and the federal and state resources available to help them successfully access international customers and clients.  Information will be available to companies entirely new to exports, and to firms interested in exploring new markets that currently may be selling internationally, but without the help of available resources. Attendees will hear from industry service providers in the public and private sector and have an opportunity to pre-schedule matchmaking time with those providers at the end of the day. Access the conference agenda and matchmaking information here.

 

Exports contribute to a more stable economy, create quality jobs, enable companies to make more investment in their communities, and most importantly, give firms access to 95% of the world’s consumers - exactly what economic development is all about! See some helpful facts about exporting below.

Benefits of Exporting

  • Exports contribute to a more stable economy, create quality jobs, enable companies to make more investments in equipment and facilities, and give firms access to 95% of the world’s consumers! Spreading the word about the initiative will help us identify more companies for exports and heighten our success.
  • 80% of the world’s purchasing power & 95% of its consumers live outside the USA

What can you export?

  • The total of exported GOODS in the Richmond Region during 2012 was $3.9 Billion. Top products from the region included chemicals, pharmaceuticals, and food and beverage products.

  • In 2012, the value of exported SERVICES from the Richmond Region contributed $2.3 Billion dollars to the metro economy. Top industries included Financial Services, IT Royalties, and Management & Consulting.

Who can export?

  • 98% of all identified exporters in 2001 were small to medium-sized enterprises (SMEs)

  • Companies entirely new to exporting or exporters selling without the assistance of resource partners
What’s the Region’s strategy?
  • Regional Collaboration - The effort will be led by Business First Greater Richmond, a program operated through GRP and its four local government partners which assists existing local businesses. We’ll work together to connect firms to our Initiative Partners, the region’s export service providers. The collaborative effort will grow the pipeline between companies with export potential and available federal and state resources, helping them to access international markets.
  • Initiative Partners - Virginia International Trade Division, US Commercial Service, Small Business Administration, and Virginia Small Business Development Center
  • Greater Richmond Export Initiative Kick-Off event - On June 12, the region will publically launch the Greater Richmond Export Initiative with a Kick-Off Conference at the University of Richmond. Information will be available to companies entirely new to exports and to firms interested in exploring new markets.
  • Keynote Speakers - VA Secretary of Commerce Maurice Jones, David Mills, Senior Vice President and Corporate Secretary for “K” Line America, Antwaun Griffin, Deputy Assistant Secretary for Domestic Operations, United States Foreign Commercial Service & Global Markets
  • Tickets for this full-day conference are just $35
  • Pre-scheduled matchmaking appointments with export service-providers will be available to all attendees.

Calls to Action

  • Learn how to successfully export goods and services by attending the Greater Richmond Export Initiative Kick-Off Conference. Help us spread the word about the benefits of exporting to increase our region’s exports, and improve our economy.

  • Help change the region’s export trajectory by utilizing the local state and federal resources standing by to help connect you to 80% of the world’s purchasing power.

For more information, contact Bethany Miller, Vice President of Business Development, Greater Richmond Partnership at BMiller@grpva.com or by phone at (804) 343-6968.



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