Team SI Named one of the Nation’s Fastest-Growing Inner City Businesses For the Third Year in a Row

Written by Team SI on Tuesday, October 09, 2018

The Initiative for a Competitive Inner City (ICIC) announced that Team SI has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth, and also won a 2018 Quality Jobs Champion Award. This award ranks companies based on their share of full-time employees, employees who are inner-city residents, and a score that measures five dimensions of a quality job (a competitive wage, basic benefits, career-building opportunities, wealth-building opportunities, and a flexible and stable workplace).

This is the third year in a row Team SI has been recognized on the list. ICIC, a 25-year-old national nonprofit founded by Harvard Business School Professor Michael E. Porter, promotes economic prosperity in America's inner cities through private sector investments that lead to jobs, income and wealth creation for local residents.

The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston on October 1-2. The full list is available on Fortune’s website. Team SI, led by CEO Tim Whitley, was ranked 56th based on its growth rate from 2013 to 2017 of 175.32 percent.

“Inner City 100 companies are forces of economic opportunity, optimism, and transformation in their communities. They lead the way in innovation, job creation, and economic revitalization, and it’s an honor to shine the spotlight on their leadership and accomplishments. In addition to excellence in business, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their communities, which significantly impacts the wellbeing of their local economies,” said ICIC CEO Steve Grossman.

Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated urban entrepreneurship. ICIC’s list has recognized 975 companies, which have seen average growth rates of more than 400 percent during a five-year period and have collectively created more than 126,000 meaningful jobs in America’s distressed and underserved communities and neighborhoods. The Inner City 100 program opens doors for other budding urban entrepreneurs and stimulates inner city business development and job creation through recognition, networking and learning.

“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies like Team SI are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies reside,” said ICIC President and COO Matt Camp.

2018 Inner City 100 by the numbers:

•Average growth rate of 436 percent between 2013 and 2017
•Represent 46 cities in 23 states
•Employed 10,085 individuals in 2017
•Created 5,516 new jobs in the last five years
•On average, 36 percent of employees live in the same neighborhood as the company
•Average company age is 15 years
•Average 2016 revenue is $14.8 million
•31 percent are women-led
•38 percent are minority-led
•Represent 26 industries

CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the conference.

 


 


 


 

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