19 area companies are on fastest-growing list

Energy, IT entrepreneurs top annual Inc. report

By Paula Schleis
Beacon Journal business writer

Published on Wednesday, Aug 27, 2008

Nineteen area companies made Inc. magazine's list of the 5,000 fastest-growing private companies in the country.

''The list is the most comprehensive look at the most important segment of the economy — America's independent-minded entrepreneurs,'' Inc. said in announcing the honorees.

The magazine said the annual list also spotlights ''engines of job growth.''

To participate in the survey, companies must have generated revenue by the first week of 2004 through the last week of 2007. Revenue in 2004 must have been at least $200,000, and revenue in 2007 must have been at least $2 million.

The companies must also be U.S.-based, privately held, for profit and independent.

Inc. noted that a change, probably related to the current economy, is in the distribution of companies by industry.

Last year's top two categories were construction and manufacturing. This year they have been supplanted by information technology business services.

But this year's fastest-growing category is energy, with a median growth rate of 287.5 percent.