Annual ranking showcases the 100 fastest-growing urban businesses in America
BALTIMORE (October 17, 2014) — The Initiative for a Competitive Inner City (ICIC) and FORTUNE announced that Planit was selected for the 2014 Inner City 100, a list of the fastest-growing inner city businesses in the U.S. This year, for the first time in the list’s 16-year history, the Inner City 100 consists of 10 fast-growing businesses from 10 industry categories. Selected companies were ranked according to revenue growth against their industry peers, as well as overall.
Planit ranked 10th in the media and communication category and 80th overall. The Inner City 100 program recognizes successful inner city businesses and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities. Planit reported 2013 revenues of $11,264,676 million and a gross growth rate of 118.9 percent from 2009 to 2013. The full list of winners can be viewed at fortune.com.
The Inner City 100 list provides unmatched original data on the fastest-growing inner city businesses in the U.S. In the last 16 years, 805 unique companies have earned positions on the Inner City 100 list, representing 183 cities and 41 states. Chevron Corporation and Staples, Inc. are longtime sponsors of ICIC and the award program.
The 2014 Inner City 100 winners represent a wide span of geography, hailing from 53 cities and 23 states. The winners grew at an average compound annual growth rate of 39 percent and an average gross growth rate of 336 percent between 2009 and 2013. Collectively, the top 100 inner city businesses employ 8,276 people and have created 5,119 new jobs between 2009 and 2013. Not only are the winners powerful job creators in their communities—they also help develop their employees. Of the 100 selected businesses, 73 percent provide business skills training and 69 percent provide professional development training to all full-time employees.
“It’s important to recognize businesses like Planit that are truly driving economic growth and job creation and America’s urban cores,” said Matt Camp, president of ICIC. “We believe that inner cities hold unique competitive advantages for business and the success of these firms underscores that market opportunity.”
We’re Planit. A strategic, digitally minded agency that leads revolutions for national and global clients. Whether that’s through digital media, non-digital media, PR, social or the “next big thing”—if it isn’t both creative and smart, we’re not doing our job. That’s why clients including AGCO, Marriott International, McCormick Foods, Island Def Jam Records and Royal Building Products continue to trust Planit. And that’s why we are able to say we’ve been named one of Advertising Age’s Small Agencies of the Year.
Initiative for a Competitive Inner City (ICIC)
ICIC is a national nonprofit founded in 1994 by Harvard Business School professor Michael E. Porter. ICIC's mission is to promote economic prosperity in America's inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connectionsand the Goldman Sachs programs. Learn more at www.icic.org or @icicorg.