As federal defense contracts continue to be cut, the state of Virginia has launched a $2 million campaign called “Going Global” to help its numerous defense-related contractors capture international export opportunities.
The program started just a month ago, but already over 80 defense contractors have committed to taking their products and services abroad.
“For small to medium-sized defense contractors, going global can be a daunting task,” said Martin Briley, president and CEO of the Virginia Economic Development Partnership (VEDP), the state authority spearheading the program.
Virginia is home to more than 5,000 defense contractors, located outside DC and near Navy bases on the coast; the defense sector makes up nearly 10% of the state’s total economy. The “Going Global” initiative hopes to provide the time, resources and expertise that many organizations need when looking to expand into foreign markets.
Has your company tried “Going Global” in Virginia? Let us know your thoughts!
