Philadelphia, PA, September 8, 2010 - Azavea, an award-winning Geographic Information Systems (GIS) software design and development firm with offices in Philadelphia and Boston, has been ranked No. 2,580 by Inc. Magazine on its fourth annual Inc. 500|5000, an exclusive ranking of the nation's fastest-growing private companies.
The 2010 Inc. 500|5000 is ranked according to percentage revenue growth when comparing 2006 to 2009. Over that period of time, Azavea experienced a 3-year growth rate of 91%. Within the Greater Philadelphia region, Azavea ranks No. 63. Despite the fact that most of this year’s measuring period of 2006-2009 took place during the latest recession, aggregate revenue among the companies on the list actually increased to $321.6 billion, up more than 50 percent from last year. And in total, the companies on the Inc. 5000 have created 1.4 million jobs. The effects of the recession are seen, however, in the median three-year growth rate, which dropped to 96 percent from last year’s 126 percent.
Azavea has experienced several years of growth despite the recession, which has also earned the company placement on the 2010 Inner City 100 list (ranked No. 28), compiled by The Initiative for a Competitive Inner City (ICIC) and Bloomberg BusinessWeek. The firm was also a finalist in the 2010 Top Small Company Workplaces list, also published by Inc. Magazine.
“It is an honor to be part of this list of thriving companies. Our firm was founded on the idea that geography matters, and that geospatial software technologies can help build thriving communities. We serve governments, non-profit organizations and university researchers by providing analysis and visualization tools to help people make better decisions. We look forward to continuing to make a difference in the various communities we serve across the country.”
-- Robert Cheetham, CEO and President of Azavea
Highlights of the 2010 Inc. 500|5000 include:
- The fastest-growing sector by median revenue growth was Real Estate, which showed 231% median growth over the period and a total growth rate of 189 percent.
- Software was second with a growth rate of 126 percent, and Telecommunications was third with 119 percent.
- The Government Services sector showed the biggest gain in terms of the number of companies on the list, up 33 percent from last year to 335 companies. Government Services was also the second-fastest-growing sector in terms of median revenue growth, posting a 202 percent gain over the 2006-2009 measuring period.
Complete results of the Inc. 5000, including company profiles, can be found on www.inc.com/5000.