FOR
IMMEDIATE RELEASE
APRIL 29, 2003
Connecticut
Declared Among Most Entrepreneurial States
For Inner-City Businesses By The 5Th Annual Icic-Inc Magazine Inner
City 100
Connecticut has 11 companies on the national ranking
(Boston, Massachusetts)
– The results of the Fifth Annual ICIC-Inc Magazine Inner
City 100 were announced Thursday, and Connecticut is home to eleven
of the fastest-growing inner-city companies in the nation.
Connecticut
has a strong presence on the Inner City 100 every year. Last year,
the state had the highest ratio of Inner City 100 companies per
total businesses between $1M and $500M with 13 companies.
While the Connecticut
Inner City 100 companies are highly concentrated in the service
and manufacturing sectors, the CEOs are quite diverse- with 2 Asian,
1 Latino, 1 African-American, and 1 Eastern European CEO on the
2003 list. Out of this year’s Inner City 100, four are from
Hartford, two each from East Hartford and New Haven, and one each
from Bridgeport, Stamford and Watertown. (See attached list.)
The #10 company
on the 2003 Inner City 100 is from Connecticut. Rego Realty Corporation
is a Latino-owned real estate developer based in Hartford. With
a compound annual growth rate of 107% and 2001 revenues of $3.3
million, Rego Realty Corporation earns an impressive rank on what
is the most competitive Inner City 100 listing to date.
Since January
1999, state leaders, along with ICIC’s City Advisory Practice,
have mobilized teams of more than 200 business, civic, and community
leaders across Connecticut to create inner-city revitalization strategies
for Bridgeport, Hartford, New Britain, New Haven, and Waterbury.
The Connecticut Inner-City Business Strategy Initiative has engaged
the private sector and built strong leadership among many different
constituencies, and has leveraged extensive resources to support
the inner-city initiatives. Many programs have been launched and
are making strong progress toward measurable impact on inner-city
business development.
"(The Connecticut
Inner-City Business Strategy) has been a true partnership between
the state and the cities, and among the private, public, and nonprofit
sectors," said Governor Rowland. "The state support …
and the ongoing commitment and leadership of the many groups involved
in this process, will help improve economic opportunities for Connecticut's
inner-city residents."
In
addition, strong statewide programs focusing on inner-city economic
development have been born; among them is the Connecticut Inner
ity
10. The Connecticut 10, launched in 2000 by the Department of Economic
and Community Development (DECD), is a listing of the top 10 fastest-growing
businesses in Connecticut’s inner cities. For the second year
in a row, all 10 Connecticut companies are showcased on the 2003
Inner City 100.
Connecticut’s
2003 ICIC-Inc Magazine Inner City 100
| Rank
|
|
City
|
Business
Description |
Total
Employees |
Compound
Growth Rate
(%) |
| 10
|
Rego
Realty Corporation |
Hartford
|
Develops
and manages real estate |
35
|
107
|
| 19
|
GRT
Corporation |
Stamford
|
Provides
IT consulting services |
51
|
78
|
| 22
|
Pertel
Communications of New England, Inc. |
Hartford
|
Provides
telecommunications, cable and wiring installation services
|
89
|
72
|
| 39
|
ArchivesOne,
Inc. |
Watertown
|
Provides
records storage management services |
90
|
53
|
| 40
|
Salamander
Designs, Ltd. |
Hartford
|
Manufactures
home-theater furniture |
15
|
52
|
| 41
|
Horizon
Staffing Services |
East
Hartford |
Provides
temporary and permanent staffing services |
16
|
52
|
| 50
|
Horizon
Services Corporation |
East
Hartford |
Provides
contracting services |
130
|
45
|
| 60
|
Kenneth
Boroson Architects |
New
Haven |
Provides
architectural services |
12
|
39
|
| 64
|
GimaSport
|
Hartford
|
Manufactures
apparel |
50
|
36
|
| 77
|
Q-Tran,
Inc. |
Bridgeport
|
Designs
and manufactures power-supply centers and transformers |
25
|
31
|
| 90
|
Svigals
and Partners, LLB |
New
Haven |
Provides
architectural services |
22
|
25
|
Inner
City 100 Sponsors
Merrill Lynch
Edward Lowe Foundation
Ewing Marion Kauffman Foundation
PricewaterhouseCoopers
About Initiative for a Competitive Inner City
The Initiative for a Competitive Inner City (ICIC) is a national,
non-partisan, not-for-profit organization founded in 1994 by Harvard
Business School Professor Michael E. Porter, following several years
of pioneering research on inner-city business and economic development.
With affiliates in three cities and significant on-the-ground activities
in many others, ICIC has rapidly established itself as a national
force in inner-city economic development. By identifying the competitive
potential of inner cities; strategic location, local market demand,
growth opportunities via integration with the regional economy and
availability of labor, ICIC aims to build the business case for
doing business in America’s inner cities. ICIC’s
mission is to spark new thinking about the business potential of
inner cities, thereby creating jobs and wealth for inner-city residents.
For more information, please visit our web site at www.icic.org.
About
Inc
Inc is the leading magazine written for the men and women who own
and manage small-to-midsized, fast-growing companies. Published
12 times a year, Inc. helps its 1.5 million readers by providing
expert advice and practical solutions as they face the opportunities,
pitfalls, and rewards of growing a company. inc.com (www.inc.com),
the Web site for growing companies, was named Best Online Magazine
by Folio and Best Overall New Publication (all media) by the Computer
Press Association.
For more information on the Inner City 100 winners, please visit
www.innercity100.org/2003.asp.
For more information on Connecticut’s Inner City Business
Strategy, please visit www.decd.org and click on Industry Clusters.
Contacts:
Ginne-Rae LeGree, DECD
860-270-8004
ginne-rae.legree@po.state.ct.us
Lauren
Kyle, CERC
860-571-6203
860-918-3753(c)
lkyle@cerc.com
Deirdre
Coyle, ICIC
617-292-2646
dcoyle@icic.org
|
