CHICAGO - Chicago is home to 12 companies on 2012’s Initiative for a Competitive Inner City (ICIC) Inner City 100 list of the fastest-growing urban businesses in America, published in Fortune.
Chicago-based transportation and logistics company, Coyote Logistics, came in first place with 2010 revenues of $327.9 million and a 5-year annual growth rate of 295%. Last winter, Mayor Rahm Emanuel visited Coyote and announced the addition of 400 new positions, and the expansion of its presence in Chicago's Green Exchange to more than 1,000 employees. The company employs mostly city residents and was recently named one of the best places to work in Chicago.
For the 2012 list, ICIC solicited more than 2,000 nominations using its database of small businesses and the support of its nominating partners, including WBC, which nominated most of the Chicago companies selected. Companies were ranked by the compound annual growth rate (CAGR) of revenue between 2006 and 2010, the last year for which complete data was available.
The 12 Chicago companies included on the list, and their 5-year compound annual growth rates include:
1 Coyote Logistics, 295%, Transportation and logistics management
11 Hillard Heintze, 71%, Strategic security and investigative services
12 Sunset Healthcare Solutions, 66%, Manufacturer and distributer of CPAP and oxygen products
15 Rise Interactive, 60%, Interactive marketing agency
18 Dean Media Group, 56%, Financial marketing agency
28 Centro, 46%, Digital media services
43 Sandstorm Design, 33%, Interactive marketing agency
45 Orbit Media Studios, 32%, Web design
47 MSDSonline, 31%, Material and chemical safety data management
65 Gorilla Commerce, 23%, E-commerce services
73 Call One, 19%, Telecommunications service provider
75 E.C. Ortiz and Co., 17%, Public accounting and consulting
“We are pleased that so many Chicago companies are being recognized for their tremendous growth and employment of city residents,” said Rita Athas, president of World Business Chicago. “The recognition is testament to the work we are doing to make sure that Chicago is an ideal location for companies to grow, which in turn creates jobs for Chicagoans.”
According to ICIC, this year’s Inner City 100 boasts a 577% average growth rate over the last 5 years. These firms created nearly 5,000 new jobs and grossed $1.5 billion in revenues, all while employing 40% of their workforces from the inner city. Showcasing these stories underscores that urban areas have unique competitive advantages that can allow companies to be successful.
The Initiative for a Competitive Inner City is a nonprofit research and strategy organization, and the leading authority on U.S. inner city economies and the businesses that thrive there. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC strengthens inner city economies by providing businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities.
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World Business Chicago (WBC) leads Chicago’s business retention, attraction and expansion efforts and raises the city’s position as a premier global business destination. Chaired by Mayor Rahm Emanuel, WBC fosters private sector growth through the advancement of a business-friendly environment that attracts world class talent.
