This year’s Inc. 500, unveiled in the September issue of Inc. magazine reported aggregate revenue of $18.4 billion, up significantly from last year’s $13.7 billion. The companies on this year’s list are also responsible for creating more than 55,000 jobs since their founding; making the Inc. 500 perhaps the best example of the impact private, fast-growing companies can have on the overall US economy. The largest company on the list, flat-panel-TV maker Vizio, broke the $2 billion revenue mark.
This year’s ranking measured revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they had to be US.-based, privately held, for profit, and independent, not subsidiaries or divisions of other companies. The minimum revenue required for 2005 is $200,000; the minimum for 2008 is $2 million.
Highlights from this year’s rankings:
- Insurance was by far the fastest-growing industry, with an average growth rate of 6,195%. Other strong performers include Logistics & Transportation (2,487%) and Food & Beverage (2,153%).
- Government Services are the top employer with 6,895 jobs, followed by Telecommunications (6,338), Health (5,803), IT Services (5,179), and Energy (4,559).
- IT Services boasted the most companies on this year’s list with 57, followed by Government Services (50), Advertising & Marketing (48), Consumer Products & Services (44), and Health (43).
- The top woman-owned company is P3S (No. 17 overall). The company provide IT network security and physical security services, mostly to the Defence Department. Owner, Mary Ellen Trevino, recorded revenue of $13.5 million in 2008 and a three-year growth rate of 5,898%.
- The top five industries by total revenue include Consumer Products & Services ($3.1 billion), Energy ($2.5 billion), Government Services ($1.9 billion), Advertising & Marketing ($1.3 billion), and Real Estate ($1.2 billion).
Complete results of the Inc. 500, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
Photo from Creative Commons: Flickr: Powerhouse Museum