Seven local companies were recently ranked among the 100 “fastest growing” companies in America’s inner cities by the Initiative for a Competitive Inner City (ICIC). Chicago had more companies on the Inner City 100 list than any other city in the country.
Additionally, World Business Chicago was recognized by ICIC with the “Top Nominator Award” for nominating the most companies for the Inner City 100 list. With so much innovation and growth occurring right here in Chicago, it was easy for WBC to find many companies worthy of being nominated.
Revenue of more than $30 million and a 79 percent five-year growth rate—achieved amid the “Great Recession”—are two of the reasons that Nitel, a broadband services company located on Chicago’s west side, was part of the Inner City 100.
Tom Auer, a local CEO whose industrial sewing company, Bearse Manufacturing, was also recognized by the ICIC, says, “It’s a great feeling when you get recognized as a leader in business. However, it’s extra special to be recognized by the ICIC because we have maintained our commitment and loyalty to our inner city roots for 90 years and counting.”
Yet another fast-growing Chicago company on the ICIC list has a co-founder that most Chicagoans will recognize: Terry Hillard. In 2004, the former Chicago Police Superintendant, along with co-founder and CEO, Arnette Heintze, opened Hillard Heintze, a strategic security and investigative services company that has seen an annual growth rate of 89 percent over the past five years. Ranking as the sixth-fastest-growing company in the country, Hillard Heintze is the highest-ranking Chicago company on ICIC’s list. “When Terry and I created the firm in 2004, there was no question in our minds that we would locate here in Chicago’s inner city; we live here, we work here. We believe that the city’s heart is here – vibrant, robust, constantly evolving, ” said Arnette Heintze.
Other Chicago companies on the ICIC list include Orbit Media Studios, a digital marketing firm; E.C. Ortiz & Co., a public accounting and consulting services company; rEvolution, a sports marketing and media company; and The LaSalle Network, a professional staffing and recruiting company. All told, the seven fastest growing Chicago companies on the Inner City 100 list had collective revenues of more than $85 million in 2009—a testament to the success possible when CEOs decide to build in the city.
The Inner City 100 is the idea of Harvard University economic development expert Dr. Michael Porter, whose vision was to strengthen inner city economies by providing “actionable” information about opportunities to be found there. Each year, ICIC ranks the country’s fastest growing companies to highlight how companies benefit from inner city competitive advantages, and thrive in those environments. And that, in turn, has a positive impact on local neighborhoods and their residents.
You can read more about the full Inner City 100 list on Fortune Magazine's CNN Money website.
