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Area Companies Dominate Inc. 500 List of Fastest-Growing Companies Once Again

August 23, 2006; Washington , DC – For the tenth consecutive year, the Greater Washington region has the largest number of fastest-growing private companies in America, according to Inc. Magazine.

This year, the region had 47 area companies on the 2006 Inc. 500 list. When compared to other major metropolitan areas, New York ranks second with 42 firms, Los Angeles follows with 25 firms, Boston in fourth with 24 firms and Atlanta rounds out the top five with 20.

The 47 area companies cross many industries ; the top two industries are IT services (21 companies) and defense contracting (8 companies). Other top industries represented are: consulting, software, and telecomm. Nearly one-third of all IT companies and nearly one-half of all defense contractors on the 2006 Inc. 500 list are based in Greater Washington.

“The 2006 Inc. 500 list confirms Greater Washington’s continued strength as an outstanding business location,” said Tim Priest, Executive Director, Greater Washington Initiative. “The huge concentration of scientists, engineers, and smart entrepreneurial managers continue to drive our economy forward.”

Total revenues for the region’s 47 fast-growing firms are more than $780 million, and they collectively employ nearly 7,900 individuals.

Inc. 500 rankings are based on a company’s percentage increase in sales from 2000 through 2004. Additional information on the Inc. 500 list is available at http://www.inc.com/inc500/

See attached for a list of regional firms on the 2006 list.

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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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