Washington’s fastest-growing private companies recognized
The Puget Sound Business Journal compiled a list of our state’s 100 fastest-growing private companies and released the results in an award ceremony held at the Washington State Convention & Trade Center on Oct. 13.
The list recognizes those companies that have achieved the greatest year-over-year revenue growth between 2008 and 2010 – an accomplishment that’s even more impressive given the current state of business across the world as economists seek to stave off another recession while sales and employment continue to lag globally.
But the view seems to depend largely on where you sit. And here at home, the companies that made the Journal’s list were said to report three-year revenue growth that spanned between 41 percent and 677 percent. With locations in Seattle, Bellevue, Snohomish and elsewhere throughout the Puget Sound, their combined revenue produced $1.16 billion in 2008, a figure that jumped to $2.19 billion in 2010 to generate a collective increase in revenue of 88 percent within that timeframe.
In addition, the companies that made the list employed a total of 5,980 people during 2008 in industries that range from software and tech developers to real estate firms and financial services. And, yes, even a tanning shop made the list.
Though many companies in Washington have been forced to cut staff to preserve their financial stability, only six of the companies on the list are reportedly employing fewer people today than they did three years ago. In fact, many of the ‘Fastest-Growing’ companies are actually hiring, collectively employing 9,600 people in 2010 – a notable increase in staff of over 60 percent.