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Virginia launches supply chain program for businesses

Virginia launched the Supply Chain Optimization program designed to help businesses improve their global competitiveness and international trade, Gov. Ralph Northam announced.

The program will provide companies with training resources, strategy development and counseling to help improve global competitiveness and streamlining their supply chain management. The program focuses on companies that import critical elements of the supply chain.

Participating businesses can access up to $10,000 in reimbursements for certain supply chain costs, which includes consulting services, connections with experts and training sessions. To participate, a company must be based in the commonwealth and have at least five full-time employees who work in the commonwealth.

“Virginia has worked hard to make businesses in the Commonwealth stronger, more resilient, and more competitive in the global marketplace,” Northam said in a statement “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.”

The program will be administered by the Virginia Economic Development Partnership and is part of the state’s International Trade Strategic Plan for Virginia. The trade plan seeks to increase the state’s exports by 50% before 2035.

“Launching the Supply Chain Optimization Program is a tremendous milestone,” Secretary of Commerce and Trade Brian Ball said in a statement. “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.”

On Sept. 14 at 2 p.m., the Economic Development Partnership will have a webinar for companies, which will explain the program.

This article was originally posted on Virginia launches supply chain program for businesses

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