As the U.S. economy continues to turn to globalization, Virginia's Hampton Roads is rapidly becoming a favored location for international companies. It is home to approximately 170 foreign companies representing 27 countries. Largest concentrations are Germany, 18%; Japan, 16%; and the United Kingdom, 10%. We have 13 consulate offices here representing Belgium, Brazil, Cyprus, Denmark, Finland, France, Germany, Iceland, Italy, Moldova, Norway, Romania, and Sweden. Top export trading partners by total value are Germany, China and the United Kingdom. Top import partners are China, Germany, and Brazil.
We bring global business opportunities to local businesses in Norfolk through the following initiatives:
Export Import Bank (EXIM) - Regional Export Promotion Program - the City of Norfolk becomes a portal through which Hampton Roads businesses can access Export-Import Bank's trade finance products and services. View the Export-Import Bank presentation from Business Cafe March 21, 2016. For more information visit Ex-Im City/State Partnership program.
U.S. Small Business Administration (SBA) - the City of Norfolk works closely with SBA's Office of International Trade to introduce Norfolk business to ways to access export working capital that gives small business the ability to finance all their export activities and needs.
United States Trade and Development Agency (USTDA)- Making Global Local - The City of Norfolk as a Making Global Local partner brings the USTDA's export promotion program opportunities focused on emerging markets to businesses in the Hampton Roads area.
This program, developed in partnership with the Department of Commerce, launched fall 2015. It supports local manufacturers enter or expand into the global marketplace. The second ExporTech Virginia was held in Summer 2016. Please visit ExporTech for more information.
"Virginia's manufacturers are exporting over $15 billion of goods to customers outside of the U.S. This demand for Virginia manufactured products invites us to maximize our efforts to prepare more companies for the opportunities in the global marketplace. I congratulate the ExporTech graduates and the City of Norfolk for the important work they are doing here." - Virginia Secretary of Commerce and Trade Maurice Jones
"What's happening here in Norfolk is setting the national standard for connecting to the global economy. The U.S. Department of Commerce is proud to partner with Virginia on ExporTech because when companies go global, it benefits the entire U.S. economy." - U.S. Deputy Assistant Secretary of Commerce Antwaun Griffin