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. Visit Ex-Im City/State Partnership program.
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.
International Business Development Events
- 5/28/2015 Discover New Markets Event, Slover Library
- 9/21/2016 Maximizing Trade Show ROI
Global Initiatives Fund
The City of Norfolk Department of Development has established the Global Initiatives Fund (GIF), a groundbreaking initiative that will support local exporters by providing patient, flexible capital to fund their export related activities. This innovative demonstration program will serve small and medium sized enterprises that seek to expand their presence in the global marketplace, and will also serve as a platform for the City to engage with the local exporting community. Additionally, the GIF is the first global commerce initiative of its kind to be launched by a local government institution in the Commonwealth of Virginia and in the United States.
This new program, developed in partnership with the Department of Commerce, launched fall 2015. It supports local manufacturers enter or expand into the global marketplace. 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
For more information on any of these programs contact Sandra Choi in the Department of Development at (757) 664-4338.