Inc. Magazine Unveils Exclusive List Of America's Fastest-Growing Private Companies - The Inc. 5000
California tops the Inc. 5000 with 612 companies; Texas places second with 393, followed by New York (263), Florida (263), and Virginia (261)
Insurance ranks as top growth industry; health now top employer
Amid recession, Inc. 5000 companies generate $214 billion in revenue; responsible for creating more than 1 million jobs since their founding
Rod Kurtz, 212-389-5325,
firstname.lastname@example.org (media inquiries);
NEW YORK, August
12, 2009 -- Inc. magazine today announced its third annual
The 2009 Inc. 5000, unveiled today on Inc.com, serve as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy.
This year's list also offers a preview of which industries are poised for growth in coming years. With an average growth rate of 667 percent, Insurance ranked as the top industry overall. Government Services was the top industry gainer with 252 companies on this year's list, up from 135 last year. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).
Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
"Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate," said Inc. 5000 project manager Jim Melloan. "That's why our list is so eagerly anticipated every year."
The Hottest Regions for Fast-Growing Companies
Once again, California tops the Inc. 5000 with the most companies of any state with 612. The Golden State is followed by Texas (393), New York (316), Florida (263), and Virginia (261). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year's list.
New York boasts 371 Inc. 5000 companies, making it the top metro area, followed by Washington, D.C. (317), Los Angeles (253), Atlanta (209), and Chicago (203).
The Inc. 5000 at a Glance
Bolstered by this year's No. 1 company, Northern Capital Insurance, Insurance emerged as the top industry, with an average growth rate of 667 percent. Other strong performers include Energy (523 percent) and Government Services (491 percent).
In total, the companies on the Inc. 5000 have created more than 1 million jobs. Health is the top employer with 156,223 jobs, followed by Business Products & Services (122,911), IT Services (89,632), Food & Beverage (86,572), and Construction (65,494).
IT Services had the most companies on this year's list with 658, followed by Business Products & Services (502), Advertising & Marketing (398), Construction (354), Manufacturing (342).
Topping this year's list is Northern Capital Insurance, a Miami-based firm that is helping to revolutionize Florida's ailing insurance industry. The company generated $95 million in revenue in 2008 and an impressive three-year growth rate of 19,812 percent.
The top woman-owned company is P3S (No. 17 overall), a San Antonio-based firm that provides IT network security and physical security services, mostly to the Defense Department. P3S, owned by Mary Ellen Trevino, recorded revenue of $13.5 million in 2008 and a three-year growth rate of 5,898 percent. The top minority-owned company is Harley Stanfield (No. 3 overall), a Washington, D.C.-based real estate investment firm that buys existing properties, makes them energy efficient, and then resells them as investment properties. Harley Stanfield, founded by Cedric Franklin, posted revenue of $38.4 million in 2008 and a three-year growth rate of 13,350 percent.
The Inc. 5000 posted an aggregate revenue of $214 billion in 2008, up nearly 16 percent from the previous year. The top five industries by total revenue include Health ($22.7 billion), Business Products & Services ($19.6 billion), Construction ($18.8 billion), Energy ($14.7 billion), and IT Services ($13.2 billion).
The Top 10 Inc. 5000 Companies Ranked by Growth
The Top 10 Inc. 5000 Companies Ranked by Total Revenue
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|Letter to Abt from Inc. Magazine:|
|Dear Employees of Abt
Congratulations, Abt Electronics has made the 2009 Inc. 5000 list of the fastest-growing private companies in America.
This achievement puts you in rarefied company: the elite group you've now joined has, over the years, included companies such as Microsoft, Timberland, Intuit, Jamba Juice, Oracle, and UnderArmour.
In fact, many of today's most successful U.S. companies received their first national recognition when they appeared on the Inc. list.
The accomplishment of running one of the nation's fastest growing companies is truly worth celebrating. We hope you will join your colleages and peers at the 28th Annual Inc. 500|5000 Conference and Awards Ceremony, which will be held September 23-25, 2009 at the Gaylord National Resort and Convention Center in Washington, D.C.
I look forward to congratulating you in person in Washington, D.C.