Annual ranking showcases the 100 fastest-growing urban businesses in America.
DETROIT, May 11, 2012 – The Initiative for a Competitive Inner City (ICIC) and Fortune Magazine announced that Powerlink Facilities Management Services (Powerlink), a Detroit-based facilities management and maintenance company, was ranked number 83 on 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. Powerlink President and CEO Link Howard III made the announcement.
The full list can be viewed at Fortune.com
“We are honored to be included in the Inner City 100, our success can be attributed to our incredible team” said Howard. “Together we will continue our efforts to provide exceptional service to clients, create additional employment opportunities and support the Detroit community.”
The rankings for each company were announced at the Inner City 100 Awards on Wednesday, May 9, 2012 in Boston, MA. 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 – a stunning 93% of the list provide health insurance.
“We are delighted to celebrate businesses like Powerlink 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.”
The list is proof of concept that doing business in an inner city area holds a distinct competitive advantage. ICIC has been studying the economic condition of the largest 100 American cities for more than a decade and is working to revitalize inner cities across the country.
Highlights of the 2012 Inner City 100 include:
- Employ 7,965 workers and have created 4,635 new jobs in the last five years.
- 25% are women-owned. Nationally, only 10% of companies with over $1 million in annual revenues are women-owned.
- Companies generated $15.3 million in revenues on average and $1.5 billion in the aggregate.
- 36% are minority-owned. Nationally, only 21% of all companies are headed by minorities.
- 40% of their workers are inner city residents.
To download a picture of Powerlink President and CEO Link Howard III, please click below.
Based in Detroit, Mich., Powerlink Facilities Management (Powerlink) is an ISO 9001-certified facilities management and maintenance services company whose professional staff follows industry standards for quality and process to help customers reduce costs, improve efficiency and experience the best in customer service at each Powerlink touch point. For more information, please visit www.powerlinkonline.com.