Three Virginia companies make list of fastest-growing inner-city businesses
Three Virginia companies have been named to a list of the 100 fastest-growing inner-city businesses in the country.
Team Henry Enterprises in Newport News ranked No. 12, River City Comprehensive Counseling Services in Richmond was No. 13 and The Pediatric Connection in Richmond was No. 97 on the 2014 Inner City 100 compiled by Initiative for a Competitive Inner City (ICIC) and Fortune magazine.
Team Henry Enterprises provides construction management, environmental, marine and emergency response services.
It has a five-year growth rate of 555.8 percent and posted revenue of $11.4 million last year. The company ranked second on the list among construction companies.
In addition to the company's Newport News headquarters, it has satellite offices throughout the South and employs more than 60 people. Its CEO is Devon Henry.
River City Comprehensive Counseling Services had revenue of $3.86 million last year and a five-year growth rate of 530 percent.
It ranked first on the list among health-care and biotechnology companies.
The CEO is James Christmas, who started River City Comprehensive Counseling in 2008. Its workforce grew from four to 150 in five years.
The Pediatric Connection has a five-year growth rate of 56.8 percent and posted revenue of $15.95 million last year.
It ranks ninth among health-care and biotech companies on the list.
CEO Beth Bailey founded The Pediatric Connection with her partner Bruce Green in 1999. The company provides equipment, supplies and home nursing services to children in Virginia and Georgia.
The rankings for each company were announced at an awards ceremony Thursday in Boston.
Winners also attended a two-day small business conference for urban companies featuring management case studies presented by Harvard Business School professors and sessions led by the CEOs of fast-growing firms.
The 2014 Inner City 100 winners are from 53 cities and 23 states. The companies grew at an average compound annual growth rate of 39 percent and an average gross growth rate of 336 percent from 2009 to 2013.