Company Ranked as the 37th Fastest Growing Inner City Company in the United States
Washington, DC, May 11, 2010: TCG, a leading government technology strategy and IT advisor, has been named by the Initiative for a Competitive Inner City (ICIC) and Bloomberg BusinessWeek 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 CEO’s as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities.
TCG ranked 37th on the 2010 list, which was announced at the 12th Annual Inner City 100 Awards Dinner on Wednesday, May 5, 2010 in Boston, MA. Winners attended a two-day event featuring seminars for Inner City 100 owners and managers at Harvard Business School, a reception at the Boston Public Library and an Awards Gala that drew more than 800 guests. This is TCG’s inaugural appearance on the list.
“It’s certainly an honor to be recognized by ICIC and Bloomberg BusinessWeek for this award,” said TCG President Daniel Turner. “TCG has been growing steadily in the last several years, as this award, the Inc. 5000, and SmartCEO have all recognized. As a DC native, it’s important to me that we continue to be an integral contributor to the Washington, 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 12 years, 607 different companies have earned positions on the Inner City 100, collectively generating more than $27.2 billion in revenues and creating nearly 72,000 new jobs.
For the 2010 list, a record number of nominations were received. Winners represent a wide span of geography, operating in 58 cities and 34 states. The 2010 Inner City 100 winners grew at a compound annual growth rate of 37 percent and an average standard growth rate of 340 percent between 2003 and 2008. Collectively, the top 100 inner city businesses employ 10,700 employees and have created more than 6,300 new jobs between 2004 and 2008.
“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 road to future economic recovery,” Mary Kay Leonard, ICIC president and CEO. “These extraordinary companies demonstrate the market possibilities that exist within our inner cities. If we can leverage these possibilities, we can create jobs, income and wealth for local residents and produce the next chapter of American innovation and opportunity.”
Eighty-five percent of companies expect steady growth and 27 percent expect their revenues to grow more than 30 percent. Individually, the median Inner City 100 Company’s revenues were $6.6 million. This year’s winners have a median employee turnover rate of less than 8 percent 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 :
- Inner City 100 companies are 34 percent minority-owned. Nationally, just 8 percent of companies with annual revenues over $1 million are minority-owned.
- 18 percent of the 2010 Inner City 100 are women-owned. Nationally, only 10 percent of companies with over $1 million in annual revenues are women-owned.
- The 2010 Inner City 100 boasts an average workforce that is comprised of 45 percent minority employees and 40 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 $200 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 (ICIC) is a national not-for-profit organization 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 engagement that leads to job, income and wealth creation for local residents. ICIC brings together business and civic leaders to drive innovation and action, transform thinking, and accelerate inner city business growth.
ICIC’s team is led by President and CEO Mary Kay Leonard. ICIC’s nationally recognized Board of Directors includes CEOs, scholars, venture capitalists, and community leaders.
David G. Cassidy