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Ace Exhibits Among ICIC and FORTUNE’s Inner City 100 Winners
The Initiative for a Competitive Inner City (ICIC) and FORTUNE announced that Ace Exhibits ranked 76th on the 2014 Inner City 100, a list of the fastest-growing inner city businesses in the U.S. This year, for the first time in the list’s 16-year history, the Inner City 100 consists of 10 fast-growing businesses from 10 industry categories. The 10 industry categories include Construction, Manufacturing, Professional Services, Food and Beverage, Retail, Media and Communications, Software and Information Technology, Transportation and Logistics, and Healthcare and Biotechnology, as well as Arts, Entertainment and Recreation. Rankings were awarded based on revenue growth against industry peers, and were also given based on an overall ranking.
Among the Media and Communications industry category, Ace Exhibits ranked 8th. The Inner City 100 program recognizes successful inner city businesses and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities. Ace Exhibits, a company that has been manufacturing and selling trade show products since 2006, reported 2013 revenues of $8.9 million and a gross growth rate of 134 percent from 2009 to 2013.
“We’re honored to be recognized as a fastest-growing Inner City 100 award recipient for three years in a row,” said Tom Hand, president and CEO of Ace Exhibits. “We’re proud to play an important role in the revitalization of inner city economic development, where our employees and our multi-step quality control processes have been strong factors in our success.”
The rankings for each company were recently announced at the Inner City 100 Awards celebration in Boston, Massachusetts. Prior to the awards announcement, winners attended a two-day small business symposium designed exclusively for urban firms, featuring business management case studies presented by Harvard Business School professors and peer-to-peer learning sessions led by CEOs of fast-growing firms. Keynote speakers included Harvard Business School Professor and ICIC Founder and Chairman, Michael E. Porter; Honest Tea Founder and CEO, Seth Goldman; Rapid7 President and CEO, Corey Thomas; Communispace Chairman, Diane Hessan; and Launch Co-Founder and CEO, Ben Fischman.
The 2014 Inner City 100 winners represent a wide span of geography, hailing from 53 cities and 23 states. The winners grew at an average compound annual growth rate of 39 percent and an average gross growth rate of 336 percent between 2009 and 2013 – collectively employing 8,276 individuals and creating 5,119 new jobs. Not only are the winners powerful job creators in their communities, they also help develop their employees – 73 percent provide business skills training and 69 percent provide professional development training to all full-time employees.
“It’s important to recognize businesses like Ace Exhibits that are truly driving economic growth and job creation and America’s urban cores,” said Matt Camp, President, ICIC. “We believe that inner cities hold unique competitive advantages for business and the success of these firms underscores that market opportunity.”
Highlights of the 2014 Inner City 100 include:
• Employ 8,276 workers -- approximately 35 percent are inner city residents
• Created 5,119 new jobs in the last five years
• 25 percent have female CEOs -- whereas, only 10 percent of national companies with over $1 million in annual revenues are female-owned
• 35 percent have a minority CEO – whereas, only 21 percent of all national companies are headed by minorities
• Average company age is 17 years
• 39 percent average compound annual growth rate
• Companies generated $42.2 million in 2013 revenues on average and $4.2 billion in the aggregate
About Ace Exhibits, Inc.
Ace Exhibits is a leading manufacturer and retailer of trade show display products. Ace Exhibits sells to both retail and distribution channels, offering a wide range of trade show products from simple pop up displays to elaborate display packages with graphics. Ace Exhibits also offers portable systems, banner stands, podiums, chairs, detachable graphics, design and more. Connect with Ace Exhibits through Facebook, Twitter, LinkedIn and Google+. For more information, go to www.aceexhibits.com.
About Initiative for a Competitive Inner City (ICIC)
ICIC is a national nonprofit 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 investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections and the Goldman Sachs 10,000 Small Businesses programs. Learn more at www.icic.org.
Ace Exhibits Listed as Inc. Magazine Fastest-Growing Private Company in America
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