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Federal Dollars Available for Virginia Small Businesses to Go International

Virginia-based small businesses have access to federal dollars for a few more months to expand their portfolios to include international trade. It is the only state that receives federal funding to augment the state's economic development program. For now.

 

I had the pleasure of recently meeting Ellen Meinhart, an international trade manager for the Northern Virginia office of the Virginia Economic Development Partnership (VEDP), who provided an overview of opportunities available to Virginia-based small businesses to expand their portfolios to include international trade.

Virginia is the only state that receives federal dollars to augment the state's economic development program. For now. Federal funding ends for Virginia in June. The other 49 states are petitioning for the extra revenue boost, led perhaps by the golden state. "California seems to be the front runner," Meinhart offers as her best guestimate.

While the money is still in Virginia, Meinhart is pounding the streets, marketing the extra financial resources while Virginia has it.

What is available?

  • $1,000 for qualified/contacted/confirmed in-country meetings that last for three to five days.
  • $250 for primary and secondary research

Qualified companies can apply for one of the following:

  • Export compliance ($15,000 per project available)
  • Digital localization ($10,000 per project available)
  • Translation and adaptation ($5,000 per project available)

What happens to the VEDP when the federal funding is gone? There are still valuable resources/tax credits/education and counseling available for small businesses to expand their businesses overseas.

What about the other 49 states? Simply search on the words: "Economic Development Partnership {state of choice}" to find the correct .gov webpage.

Back to Virginia. If you would like to know more about the federal funding available to qualified Virginia-based small businesses, contact Ellen Meinhart. Please let her know that AFCEA sent you.

Katie Helwig is manager of small business programs at AFCEA International.