What is VITAL?
The Virginia International Trade Alliance (VITAL) isn't a trade association, but rather an alliance - a partnership to promote fresh thinking and awareness about the Commonwealth's global future. It formalizes cooperation between Virginia's public and private sectors in pursing international trade and investment opportunities.
As a non-profit, public-private entity, VITAL creates opportunities for Virginia's business - large and small - to partner, share best practices and learn from one another. VITAL provides a platform for Virginia's business community to network and reach expanded opportunities internationally.
The Virginia Economic Development Partnership and The Virginia Port Authority are providing the structure and staff to help ensure the success of VITAL.
It's a First for Virginia
VITAL is a first for the Commonwealth as the private sector joins together to address pressing international economic issues in 10 key areas. The alliance will:
• Tap into the best practices of Virginia's businesses active in the international marketplace.
• Serve as a central point for the development of a coordinated international marketing strategy for Virginia.
• Prepare and implement an annual work plan designed to increase international trade and investment throughout Virginia.
Important to Virginia's Future
VITAL's recommendations will fuel Virginia's international economic engine to drive trade, investment and job creation. With a 400-year history of international trade, Virginia's future in the global economy requires an integrated public-private to ensure continued success with imports, exports and investments.
Leadership of Governor Kaine
Virginia Governor Timothy M. Kaine supports VITAL as an extension of his 2006 Economic Development Strategic Plan. In the plan Governor Kaine called for a "coordinated international marketing strategy for Virginia.
The Governor's plan calls to:
• Increase Virginia exports by seven percent ($855 million) by 2010
• Increase foreign direct investment in Virginia to 3,000 jobs and $300 million per year.