Aug. 18 /PRNewswire/ -- Abel Solutions, a leading Microsoft SharePoint solution provider, announced today that they have been ranked number 4051 by Inc. Magazine on its third annual ranking of the 5,000 fastest-growing private companies in the country. Abel Solution's three-year sales growth of 49% earned them this prestigious recognition.
"It is a credit to our entire staff and business partners to have received this recognition as one of the fastest growing IT service companies in America," stated Kevin Abel, President of Abel Solutions. "Our focus on maximizing business value by leveraging SharePoint and the .Net development framework to deliver innovative solutions has helped us to achieve our substantial growth."
The Inc. 5000 list represents the most comprehensive look at the most important segment of the economy--America's independent-minded entrepreneurs. Consumer electronics maker Vizio, Internet giant GoDaddy, rental car service Zipcar, and beverage maker Honest Tea are among the prominent brands featured on this year's list.
"Savvy trend spotters and those who invest in private companies know that the Inc. 5000 is the best place to find out about young companies that are achieving success through a wide variety of unprecedented business models, as well as older private companies that are still expanding at an impressive rate," said Inc. 5000 project manager Jim Melloan. "That's why our list is so eagerly anticipated every year."
The 2009 Inc. 5000 serves as a unique report card on the U.S. economy. Despite the ongoing recession, aggregate revenue among the companies on the list actually increased to $214 billion, up $29 billion from last year, with a median three-year growth rate of 126 percent. The Inc. 5000 are responsible for creating more than 1 million jobs since their founding, making the list perhaps the best example of the impact private, fast-growing companies can have on the economy. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found on Inc.com.
This year's list also offers a preview of which industries are poised for growth in coming years. With an average growth rate of 667 percent, Insurance ranked as the top industry overall. Government Services was the top industry gainer with 252 companies on this year's list, up from 135 last year. Health is the top industry by both total revenue ($22.7 billion) and total employment (156,223 jobs).
The Hottest Regions for Fast-Growing Companies
Once again, California tops the Inc. 5000 with the most companies of any state with 612. The Golden State is followed by Texas (393), New York (316), Florida (263), and Virginia (261). All 50 states, plus Washington, D.C., and Puerto Rico, are represented on this year's list.
New York boasts 371 Inc. 5000 companies, making it the top metropolitan area, followed by Washington, D.C. (317), Los Angeles (253), Atlanta (209), and Chicago (203).
The Inc. 5000 at a Glance
In total, the companies on the Inc. 5000 have created more than 1 million jobs. Health is the top employer with 156,223 jobs, followed by Business Products & Services (122,911), IT Services (89,632), Food & Beverage (86,572), and Construction (65,494).
IT Services had the most companies on this year's list with 658, followed by Business Products & Services (502), Advertising & Marketing (398), Construction (354), and Manufacturing (342).
The Inc. 5000 posted an aggregate revenue of $214 billion in 2008, up nearly 16 percent from the previous year. The top five industries by total revenue include Health ($22.7 billion), Business Products & Services ($19.6 billion), Construction ($18.8 billion), Energy ($14.7 billion), and IT Services ($13.2 billion).
The Inc. 5000 is ranked according to percentage revenue growth from 2005 through 2008. To qualify, companies must have been founded and generating revenue by the first week of 2005, and therefore able to show four full calendar years of sales. Additionally, they have to be U.S.-based, privately held, for profit, and independent -- not subsidiaries or divisions of other companies -- as of December 31, 2008. Revenue in 2005 must have been at least $200,000, and revenue in 2008 must have been at least $2 million. The top 10 percent of companies on the list comprise the Inc. 500, now in its 28th year.
About Inc. Magazine
Founded in 1979 and acquired in 2005 by Mansueto Ventures LLC, Inc. (www.inc.com) is the only major business magazine dedicated exclusively to owners and managers of growing private companies that delivers real solutions for today's innovative company builders. With a total paid circulation of 712,961, Inc. provides hands-on tools and market-tested strategies for managing people, finances, sales, marketing, and technology. Visit us online at Inc.com.
About Abel Solutions, Inc.
Abel Solutions employs innovative technology to increase the productivity of businesses by making the right information available to the right people at the right time. A Microsoft Gold Certified Partner for Information Worker and Custom Development Solutions, Abel Solutions is widely recognized for their SharePoint-based solutions, custom application development and innovative delivery methodology. Abel Solutions has been delivering custom solutions for businesses, state and local government and non-profit organizations since 1995.
For further information: visit www.abelsolutions.com.