ColorFX Inc. Among ICIC and Fortune Magazine’s Inner City 100 Winners
The Initiative for a Competitive Inner City (ICIC) and Fortune Magazine announced that ColorFX Inc. (Rank #94) was selected for the 2012 Inner City 100, a list of the fastest-growing inner city companies in the U.S. The Inner City 100 program recognizes successful inner city companies and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities.
The rankings for each company were announced at the Inner City 100 Awards on May 9 in Boston. Winners attended a two-day small business symposium featuring executive education case studies and how-to workshops from leading content providers, including Harvard Business School, Babson College, Boston University, Next Street and R/GA.
The Inner City 100 list provides unmatched original data on the fastest-growing inner city businesses in the U.S. In the last 14 years, 720 different companies have earned positions on the Inner City 100, collectively generating more than $2.2 billion in annual revenues and creating nearly 73,000 new jobs. Chevron Corporation, Staples and Goldman Sachs are long-time sponsors of the program.
For the 2012 list, winners represent a wide span of geography, operating in 46 cities and 30 states. The 2012 Inner City 100 winners grew at a compound annual growth rate of 40 percent and an average standard growth rate of 577 percent between 2006 and 2010. Collectively, the top 100 inner city businesses employ 7,965 employees and have created more than 4,635 new jobs between 2006 and 2010. Not only are they powerful job creators in their communities, but they also treat their employees well—93 percent of the list provide health insurance.
“We are delighted to celebrate businesses like ColorFX, Inc. Sun Valley, California that are playing a critical role in revitalizing communities across the country. Through their achievements, the Inner City 100 winners exemplify America’s remarkable potential and the future of our urban centers,” said Mary Kay Leonard, ICIC president and CEO. “These extraordinary companies demonstrate the market potential that exists within our inner cities and the growth that is at the heart of all urban entrepreneurial successes.”