VCU news

By Leila Ugincius

The Virginia Commonwealth University School of Business is a member of the Virginia International Trade Alliance, a new initiative announced by Gov. Terry McAuliffe last week. 

Under the management of the Virginia Economic Development Partnership,  VITAL will strengthen the commonwealth’s nationally recognized international trade program through formal partnerships with public universities such as VCU, industry associations and the Virginia Chamber of Commerce to expand international sales. 

“As we continue to recruit new businesses to the commonwealth, we also need to help our existing businesses export their goods and services,” McAuliffe said during the announcement. “International trade is a key part of my plan to create private sector jobs and build a new Virginia economy that is less reliant on the federal government. This new VITAL initiative demonstrates the commonwealth’s commitment to helping existing Virginia businesses succeed in the international marketplace, making our economy even stronger.” 

As VITAL partners, VCU and other state universities will identify companies with international business as a corporate strategy and conduct international research to position these companies for global expansion. 

Expanding international partnerships is a strategic focus for VCU, and we welcome the opportunity to build on the knowledge and connections we have developed, both internationally and across Virginia, to make VITAL a success.

“Expanding international partnerships is a strategic focus for VCU, and we welcome the opportunity to build on the knowledge and connections we have developed, both internationally and across Virginia, to make VITAL a success,” said Ed Grier, dean of the VCU School of Business.

 Over the past two years, representatives from the VCU School of Business have worked with VEDP and Maurice Jones, secretary of commerce and trade for Virginia, to conceptualize and develop VITAL, said Van R. Wood, Ph.D., Philip Morris Chair in International Business and professor of marketing. 

“VITAL, through the faculty-led, student-driven research projects that will analyze world market opportunities for participating Virginia businesses, will not only expand the state's international scope, enrich participating companies' revenue streams and grow the state's tax base, but will also develop the next generation of savvy global business managers  — the students working on VITAL projects — that are so vitally needed today and in the future as globalization continues to gain depth and breadth,” Wood said. “VCU welcomes the opportunity to be a founding member of this truly unique alliance and the significant projects that it portends.” 

Alliance goals include growing Virginia exports by $1.6 billion, creating 14,000 trade-supported jobs in five years and increasing the number of companies enrolled in VEDP’s international trade programs. 

For more information, visit ExportVirginia.org.