Company Ranked as the 17th Fastest Growing Inner City Company in the United States
Washington, DC, May 17, 2011: TCG, a leading government technology strategy and IT advisor, has been named by the Initiative for a Competitive Inner City (ICIC) and Fortune Magazine as one of the 100 fastest growing inner city companies in the United States. 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 full list can be viewed at www.fortune.com/innercity100.
TCG ranked 17th on the 2011 list, which was announced at the 13th Annual Inner City 100 Awards Dinner on Thursday, May 12, 2011 in Boston, MA. Winners attended a two-day event featuring seminars for Inner City 100 owners and managers at Harvard Business School, a procurement symposium, and an Awards Gala that drew more than 500 guests. This is TCG’s second consecutive appearance on the list having ranked 37th last year.
“TCG is thrilled to be recognized by ICIC and Fortune Magazine as an Inner City 100 company for the second year in a row,” said TCG President Daniel Turner. “As a DC native I chose to locate my company in an underserved area, not only to help revitalize DC, but also to take advantage of tax breaks that make us more cost competitive for our government clients. We are still growing in terms of revenue, clients, and employees, and aim to continue to be an integral contributor to the DC economy and business community for years to come.”
The Inner City 100 list provides unmatched original data on the fastest growing inner-city businesses in the U.S. In the last 13 years, 661 different companies have earned positions on the Inner City 100, collectively generating more than $2.2 billion in annual revenues and creating nearly 70,000 new jobs.
To qualify for the Inner City 100 list, companies were required to have at least 51 percent of their operations located in an economically distressed urban area; have at least 10 full-time employees; and a five-year operating sales history that includes at least $200,000 in revenues in the first year of consideration, an increase in year five sales over year four sales, and fifth-year sales of at least $1 million. For the 2011 list, ICIC looked at total revenue growth from 2005 to 2009 and the specific rankings were based on these growth rates. An economically distressed urban area is defined by ICIC as having a 50 percent higher unemployment level, 50 percent higher poverty level, and 50 percent lower median income than the metropolitan statistical area.
For the 2011 list, a record number of 2,000 nominations were received. Winners represent a wide span of geography, operating in 51 cities and 32 states. The 2011 Inner City 100 winners grew at a compound annual growth rate of 39 percent and an average standard growth rate of 379 percent between 2004 and 2009. Collectively, the top 100 inner city businesses employ 6,720 employees and have created more than 3,227 new jobs between 2005 and 2009.
“We are delighted to celebrate businesses like TCG that are playing a critical role in revitalizing America’s urban communities. Through their achievements, the Inner City 100 winning companies 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 possibilities that exist within our inner cities and the growth that is at the heart of all urban entrepreneurial successes.”
Individually, the average Inner City 100 Company’s revenues were $11.4 million and have, on average, 12 years of experience since founding. This year’s winners have a median employee turnover rate of less than 12 percent (compared to 36 percent for the national average) and 96 percent of them provide health insurance to their workers.
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 2010 Inner City 100 list include :
- One third of this year’s Inner City 100 companies are minority owned. Nationally, just 8 percent of companies with annual revenues over $1 million are minority owned.
- 24 percent of the 2011 Inner City 100 are women owned. Nationally, only 10 percent of companies with over $1 million in annual revenues are women owned.
- The 2011 Inner City 100 boasts an average workforce that is comprised of 37 percent inner city residents.
TCG is an award-winning small business that specializes in tailored information technology solutions and advisory services with a particular focus on grants management, collaboration platforms, and budget formulation and execution. TCG transforms information technology infrastructures and inconsistent processes to integrated environments built on reusable functionality, consistent business processes, and interoperable infrastructures. The multiple awards that TCG and its clients have received demonstrate the benefits of using best practices such as CMMI, ITIL, and PMBOK to meet complex technology and management needs.
TCG’s company goal is to save the US taxpayer $1 billion by 2016. So far the company has saved the government in excess of $265 million by automating once-costly processes, using time-saving and money-saving processes in developing code, helping the government restructure its business processes, and paying careful attention to the company’s own expenses on contracts.
The Initiative for a Competitive Inner City is a nonprofit research and strategy organization based in Boston, MA, and the leading authority on U.S. inner city economies and business development. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC supports public and private sector decision makers with analysis and programs that lead to urban investment, jobs and growth.
Inner City 100 Sponsors
Bank of America, Chevron Corporation, Goldman Sachs, and Staples Foundation
David G. Cassidy