Azavea was named one of the nation’s fastest-growing companies on the 2009 Inc. Magazine’s 500|5000 List at number 1,741 and ranks 52 in the Greater Philadelphia region, based on its 182.4 percent revenue growth over the past three years.
The 2009 Inc. 500|5000 serves as a unique report card on the U.S. economy. Despite the current gloomy economic situation, the aggregate revenue among the companies on the 2009 Inc. 5000 List 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).
After ranking 13 on the 2009 Inner City 100 List, we are thrilled to be part of the Inc. 5000 List for the first time.
Read more about the 2009 Inc. 500|5000, here.
The Initiative for a Competitive Inner City (ICIC) and BusinessWeek Small Biz magazine just released the list of the 100 fastest-growing inner-city companies in the U.S., a.k.a. 2009 Inner City 100. We’re proud to say Azavea ranks 13 on the list.
Three other Philly companies made the list, which is really exciting: Amuneal Manufacturing Corporation (51), Stroll (62), and Perryman Building and Construction Services (94). Philly is right behind Boston and Denver, each with 5 companies on the list. Oakland has 4 companies as well, while New York and Los Angeles have 3. Go Philly! You can read more about it on Technically Philly.
Callowhill, our neighborhood
For the 2009 list, over 5,000 nominations were received. The 2009 Inner City 100 winners grew at a compound annual growth rate of 40% and an average rate of 324% between 2003 and 2007. Collectively, the top 100 businesses employed nearly 17,000 people and created nearly 10,000 new jobs over the past five years.
We are honored to be on the list this year. As Michael Porter, founder and CEO of ICIC said “ by creating jobs, income, and wealth for local residents, these high-growth businesses are vivid proof that the most effective way to address economic inequality in America is to equip every community to prosper in the market system.”
The full press release is available here.
