RICHMOND, Va., Oct. 31 (UPI) -- Small- and medium-sized defense contractors in Virginia are getting state assistance in exporting products and services abroad.
The assistance program, called Going Global, is intended to mitigate the impact of the U.S. government's budget sequestration on Virginia's economy by strengthening international sales for hundreds of companies based in Virginia.
"For small to medium-sized defense contractors, going global can be a daunting task," said Martin Briley, president and chief executive officer of the Virginia Economic Development Partnership, the state authority spearheading the program. "Virginia's defense companies can rely on the Going Global initiative to provide the time, resources and deep expertise necessary to gain a stronger foothold in international markets."
The program offers assistance in market research, export compliance, digital marketing and with international certification and global trade missions.
The program, which started a month ago, already has nearly 80 defense-related companies on its roll of participants.
Going Global is modeled after Virginia's award-winning International Trade program, which has been known to increase participants' international sales by an average of 54 percent.
Virginia is home to more than 5,000 defense-related companies, which account for about 10 percent of the state's economy.
