A group of businesses in greater Grand Rapids have been included on a list of the fastest-growing private companies in 12 Midwestern states.
Inc. magazine on Tuesday published its 2021 Inc. 5000 Regionals: Midwest list, and seven organizations in West Michigan made the cut.
The list ranks the top 250 fastest-growing private companies in Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin. Born of the annual Inc. 5000 franchise, this regional list represents a close look at the most successful companies within the Midwest economy’s most dynamic segment — its independent small businesses.
“This list proves the power of companies in Midwest states, no matter the industry,” said Scott Omelianuk, Inc. editor-in-chief. “The impressive revenues and growth rates prove the insight and diligence of CEOs and that these businesses are here to stay.”
The 2021 Inc. 5000 Regionals are ranked according to percentage revenue growth when comparing 2017 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2017. They had to be U.S.-based, privately held, for profit and independent — not subsidiaries or divisions of other companies — as of Dec. 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2017 is $100,000; the minimum for 2019 is $1 million.
A full list of the Inc. 5000 Regionals: Midwest, including company profiles and an interactive database that can be sorted by industry, metro area and other criteria, is online.
West Michigan rankings
28. AE Betancourt, Grand Rapids, 357% two-year growth rate,
50. Michigan Software Labs, Ada, 254%
68. Fifth Wheel Freight, Kentwood, 202%
105. Tech Defenders, Grand Rapids, 135%
192. Firstronic, Grand Rapids, 70%
224. Service Professor, Grand Rapids, 57%
246. FlexPost, Holland, 51%