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Greater Washington Area Companies Dominate Inc. 500 List for Eighth Consecutive Year
November 1, 2004; Washington , DC – For the eighth consecutive year, the Greater Washington region has the highest number of fastest-growing private companies in America, according to Inc. Magazine. This year, DC-based telecom firm InPhonic topped the Inc. 500 list as the number one, highest-ranked company, boasting an impressive annual growth rate of nearly 6,000%. The company is one of 40 firms on this year’s list based in Greater Washington.
When compared to other major metropolitan areas, Boston ranks second with 24 firms, followed by San Francisco/San Jose with 19 and Atlanta with 17. Chicago and Dallas tied in fifth place with 12 firms each. The 40 area businesses cross many industries ; however, more than 50% of the firms (21) operate in the information technology and communications industry. Other top industries are defense contracting, advertising/marketing, consulting, business services and financial services.
“The 2004 Inc. 500 list reveals Greater Washington’s continued strength as a premier business location,” said William Couper, Chairman, Greater Washington Initiative, and President of Bank of America, Greater Washington. “The listings underscore the tremendous assets that our region offers to businesses in all sectors, especially technology-related companies.”
The region’s 40 fast-growing firms’ total revenue is more than $750 million, and the companies collectively employ more than 6,428 individuals. Greater Washington has continued to dominate the Inc. 500 list for several years; the region had 47 firms in 2003, 40 firms in 2002, 34 firms in 2001, 40 in 2000 and 42 in 1999. (See attached for a list of regional firms on this year’s list.)
Inc. 500 rankings are based on a company’s percentage increase in sales from 1999 through 2003. Additional information on the Inc. 500 list is available at http://www.inc.com/inc500/
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The Greater Washington Initiative ( GWI) is the non-profit, regional economic development marketing organization created to promote the Greater Washington region as a premier business location. For more information, visit www.greaterwashington.org. GWI is an affiliate of the Greater Washington Board of Trade (BOT). For more information, visit www.bot.org
Greater Washington region companies ranked
on 2004 Inc. 500 List:
Company Ranking Location Industry
Source: 2004 Inc. 500 list: http://www.inc.com/inc500/
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