RICHMOND, Va. (WAVY) — On Wednesday, Governor Ralph Northam announced that Virginia is expected to launch the nation’s first state-led Supply Chain Optimization Program aimed at helping Virginia businesses streamline their supply chain management and boost their global competitiveness.
“Virginia has worked hard to make businesses in the Commonwealth stronger, more resilient, and more competitive in the global marketplace,” said Governor Northam. “We’re excited to implement the country’s first official Supply Chain Optimization Program, which will support thousands of businesses and boost international trade. I look forward to seeing this program’s success.”
Officials say that companies accepted into the program are set to receive counseling, strategy development, and training resources from international trade experts to improve performance and reduce costs.
It will give participating firms access to a maximum of $10,000 in reimbursements for their supply chain-related expenses.
This one-year program is part of the International Trade Plan for Virginia that Northam announced in November 2019. The program is part of his plan to expand the Commonwealth’s international trade output by 50 percent before 2035.
The General Assembly allocated $1.35 million to support the implementation of this plan, with $1.1 million going directly to the Virginia Economic Development Partnership.
“Launching the Supply Chain Optimization Program is a tremendous milestone,” said Secretary of Commerce and Trade Brian Ball. “This program takes Virginia one step closer to realizing the goals of our International Trade Strategic Plan, and will help businesses grow their capabilities and facilitate global connections. I commend the Virginia Economic Development Partnership and all those who have worked together to ensure its success.”
Companies are eligible to participate if they have at least five full-time employees in Virginia and have their operations located in Virginia.
Those interested in the program can attend an introductory webinar on September 14 at 2 p.m.
Visit the program’s website for more information.