State program designed to expand exports

by Heather B. Hayes
for Virginia Business
February 2006

It’s tough enough for small businesses to find the time and financial resources to identify new markets in the United States, much less overseas. That’s why state economic development officials created the Accessing International Markets (AIM) export development program and recently accepted its first five participants.

All of the participants are from Southside and Southwest Virginia. They are: PC Design Inc., in Altavista; Electronic Development Labs in Danville; American Mine Research in Rocky Gap; Virginia Insulated Products in Saltville; and Hoover Color Corp. in Hiwassee.

The program provides each company with a $5,000 grant. The companies, which are required to focus on specific markets in South America, Asia or Europe, also will receive market research and pro bono professional services from AIM partners.

Chuck Hoover, Jr., COO, Hoover Color, says that the program will provide “a little meat in the soup to help us promote our export activities in Asia.” His company, which makes color pigments, began targeting markets in China about a year and a half ago.

Hoover Color plans to use the money to improve its Web site and make it more user-friendly for Asian customers. The company also will develop promotional materials in Mandarin Chinese.

“It’s also giving us access to the collective wisdom and collective creativity of other people within the state who are interested in exporting,” Hoover says.

Virginia companies interested in being accepted into AIM can apply in March, June and September. To participate, companies must have been in business for a minimum of two years and have at least 10 employees and annual revenues of $1 million. Companies also must demonstrate export experience or have at least five leads in the past year and commit to visiting their target market during their time in the AIM program.