The Division of International Trade is part of the Virginia Economic Development Partnership (VEDP), a state authority created to promote economic expansion within the Commonwealth of Virginia. The goals in the Division are to increase the number of Virginia companies exporting and the volume of Virginia’s exports. The Division helps Virginia companies sell Virginia’s manufactured goods and services to the billions of people outside the United States. The group works with small and large companies, both public and private from all types of industries. The Division helps both new exporters and experienced exporters enter new markets. This is done by helping companies identify potential new markets, develop market entry strategies and locate possible distributors and representatives for your products, all at little to no cost.
The Metro Richmond Exports Initiative (MREI) is a non-profit group that’s here to help central Virginia businesses export their goods and services. This is done through special educational and networking programs, through grants and scholarships for export-related activities, and by connecting businesses with the resources they need to go global. MREI also work to make local businesses and organizations more aware of the benefits of exporting.
Formerly known as the Richmond Export-Import Club, the Virginia International Business Council seeks to be a foremost provider of “impactful” international intelligence with respect to market opportunities, sourcing possibilities, environmental realities and the strategies and tactics related to global business success in Virginia. The group provides its members numerous regularly scheduled networking events, which provide business owners the opportunity to gather and share insights and experiences. It also provides educational seminars and conferences that highlight the issues business need to be aware of when transacting business abroad.
A Foreign-Trade Zone (FTZ) is an area of land within the United States, located at or near a U. S. Customs port-of-entry, where foreign and domestic merchandise is generally considered to be in international commerce (not in U. S. Commerce Territory). Zone procedures provide an extremely flexible method of handling domestic and imported merchandise, allowing users to save time, transportation and handling charges. FTZ provides U.S. businesses the opportunity to save both money and time on goods sourced abroad. FTZ #207 is located at Richmond International-Airport and features the following:
- Over 2,500 Acres designated FTZ
- 45,000 s.f. on airport warehouse space
- Two operators available to handle general purpose warehouse needs
- Provides general purpose benefits to Fortune 500 clients
- Promotes/provides support for manufacturing clients who need FTZ benefits on their facilities
- Full time staff to support FTZ users
Courtesy of your U.S. tax dollars, find a wealth of information on the website or reach out to Richmond’s local trade expert.
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