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Washington Area Tech Firms Rank Among Fastest-Growing
Hispanic-Owned Businesses in the Country, According to Report

Access to Government Contracts Is Key, Says GWI

August 10 , 2005; WASHINGTON , DC – Ten of the nation’s 100 fastest-growing Hispanic-owned businesses are based in the Washington area, according to a report in the July-August issue of Hispanic Business magazine.

Seven of the firms are based in Northern Virginia, two in Suburban Maryland, and one in the District of Columbia, according to the magazine.

“Nearly all the Washington-area businesses on the list offer technology products and services, and most derive much of their revenue from contracts with federal, state and local governments,” according to Tim Priest, Interim Managing Partner, Greater Washington Initiative (GWI).

“In addition to the Hispanic-owned technology businesses headquartered here, a large number of Hispanic-owned firms based elsewhere maintain a presence in the Washington area to do business with the government and to team with major systems integrators on government contracts,” Priest added.

Columbia, MD-based Lingual Information Systems Technologies, which provides IT support and software development, ranks 10th on the list, with a compound annual sales growth rate of 77.2 percent over the last four years.

Chantilly, Virginia-based Cairo Corp., which does IT consulting, ranks 28th on the list, with a compound annual sales growth rate of 49 percent over the last four years.

Washington, DC-based Creative Associates International, which provides management consulting and technology services, ranks 38th on the list, with a compound annual sales growth rate of 40.6 percent.

Other Washington-area firms making the list of 100 fastest-growing Hispanic-owned firms are: Herndon-based Engineering, Management and Integration Inc.; Springfield-based Tessada & Associates Inc.; Vienna-based MVM Inc.; Alexandria-based Geologics Corp.; Dulles-based Technica Corp.; Sterling-based The Cube Corp., and Saverna Park-based Network Management Resources Inc.

Another Chantilly-based firm, MAC Aerospace Corporation, ranks among the top 30 Hispanic-owned exporters. The firm ships aircraft spare parts to customers in Germany, the United Kingdom, Japan, Brazil and China.

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The Greater Washington Initiative (GWI) is the regional economic development marketing organization that assists firms in expanding their businesses in the District of Columbia, Northern Virginia and Suburban Maryland. GWI provides complimentary and confidential client services and research and is an affiliate of the Greater Washington Board of Trade. For more info, visit www.greaterwashington.org
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