Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Business Law
    • Commercial Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • Coronavirus 2020
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • Diversity Leadership Series
    • Vote Now for Women in Leadership
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read the issue
    • Order a copy
    • Buy an award plaque
    • Nominate execs for 2021

Advertisement

Header Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Home News Regions Southwest Virginia State program helping defense contractors to be continued

State program helping defense contractors to be continued

Published August 24, 2015 by Robert Powell, III

The commonwealth will continue a program aimed at helping Virginia defense contractors find new markets for their products and services.

The Going Global Defense Initiative (GGDI), run by the Virginia Economic Development Partnership, has received $1.8 million in grant funding for a third year of operation. The GGDI was created to mitigate the negative effects of defense spending cuts on Virginia’s economy. 

“As federal budget cuts and sequestration continue to hamper Virginia’s economy, the Going Global Defense Initiative is a vital tool to help Virginia’s defense companies offset the loss of defense revenue,” Gov. Terry McAuliffe said in a statement. “The GGDI, which is the first program of its kind in the U.S., helps Virginia defense companies diversify their revenue streams by identifying new business in international markets.”

Virginia leads the nation in federal defense contracts and is home to about 5,000 defense-related companies.

Facing Department of Defense cuts of more than $300 billion in the next five-plus years, Virginia stands to lose many high-paying jobs. 

In its first two years, more than 250 companies participated in GGDI program. More than 100 participants travelled to an international market in pursuit of new business. 

Virginia’s support of the GGDI is made possible by McAuliffe’s funding of the Virginia International Trade Alliance (VITAL), announced last month.  VITAL’s goals are to increase Virginia’s exports by $1.6 billion and to create 14,000 trade-supported jobs during the next 5 years. 

The GGDI generates international sales for Virginia’s defense companies by providing:

• Research on international markets.
• Export compliance.
• Digital localization.
• Technical translation and adaptation.
• Events with U.S. Combatant Commands and partner nations.
• Export training.
• An online portal of GGDI resources.
• Going Global training courses.

Related Stories

Virginia Business logo

Eldor opens auto-parts plant in Botetourt County

Virginia Business logo

McAirlaid’s Inc. to expand production in Franklin County

Northam named Appalachian Regional Commission states’ co-chair

Governor to help oversee the program that brings funding to the Appalachian region

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Advertisement

Advertisement

Trending

Finance/Insurance: STEPHAN Q. CASSADAY

Finance/Insurance: PAUL B. MANNING

Federal Contractors/Technology: JASON PROVIDAKES

Education: ANNE M. KRESS

Artemis I to launch with help from Va. contractors

Sponsored Stories

Why is my Less Than Truckload (LTL) freight pricing going up and my service level going down?  

Beyond Juneteenth – How Capital One is Commemorating and Implementing Change

How We Help Your Business Operate Better

Before the Breach: Get Serious About Cyber Resilience

Professionals are Discovering What it Means to Live Uniquely in the Alleghany Highlands of Virginia

Riverside Logistics Celebrates 25th Anniversary!

Girls for a Change Empowers Black Youth for the Future Workforce

The Jackson Ward Collective is equipping Black-owned small businesses with the tools for success

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk