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FY 2015 Defense Spending By State report now available for download.

Going Global Defense Initiative

Purpose: 

Regional Background

For many years, Virginia has relied heavily on defense spending; in fact, 15 percent of the Commonwealth’s economy is dependent upon the defense industry; that is more than 900,000 jobs. However, the current and future fiscal environment for DoD will indisputably have a negative impact on Virginia, forcing companies in the Commonwealth to face job and revenue losses from decreased contracts with the Federal government.

Project Overview

DoD’s Office of Economic Adjustment issued a Defense Industry Adjustment grant to Virginia to help businesses realign their markets and create new customer bases, preserving jobs, company revenues, and communities.
The Going Global Defense Initiative is designed to help Virginia’s defense-related companies train to obtain long-term sales in international markets. The grant program is designed to teach businesses that are new to exporting, as well as current exporters, how to successfully secure sales in the international marketplace.

Export training activities under the grant include:

  • Business Community Outreach Workshops
  • Security Market Reports
  • Market Research
  • Export Compliance
  • International Digital Localization
  • Export Training
  • Technical Translations

Projected Outcomes

The function of this program is to help Virginia businesses diversify their customers by looking beyond defense business and toward the global market. The program has assisted more than 300 companies. Those companies participating in the Going Global Defense Initiative projected a 96 percent increase in international sales over the next two years.

State:
va