2 ArkLaTex firms among fastest growing in U.S., Inc. says
Magazine annually ranks the top 5,000 companies based on percentage revenue growth
SHREVEPORT, La. (KSLA) — Two of the fastest-growing private companies in America are right here in the ArkLaTex, according to Inc. magazine, which recently released its annual rankings.
“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”
Coming in at 1,181 among the 5,000 companies is the Louisiana New Product Development Team. The 4-year-old Shreveport-based engineering firm logged a three-year growth rate of 384%, the magazine reports.
The Louisiana New Product Development Team “... provides product design, prototyping and marketing services. That includes developing CAD models and PCB circuits, building prototypes, optimizing product designs for manufacturing, creating marketing materials (packaging, websites, animations, renderings) and more,” Inc. said.
Another Shreveport-based firm also made the list. With a three-year growth rate of 63%, VitalSleep is ranked at 4,732 among the 5,000.
Inc. Magazine says VitalSleep, which was founded in 1993, “... provides patients with sleep and neuro management through its sleep centers in Louisiana and Texas. Delivers innovative and personalized sleep care testing, products and education.”
Three more companies in the region also made this year’s list. They are:
- Mid America Pet Food in Mount Pleasant, Texas, with a three-year-growth rate of 126% and a ranking of 3,077;
- Pipeline Project Services, an energy company based in West Monroe, La., that also recorded a 126% growth rate and a ranking of 3,082; and,
- NetTech, an IT management firm out of Monroe, La., with a growth rate of 70% and a ranking of 4,526.
The Inc. 5000 Vision Conference, the annual event honoring these five companies and the other 4,995 on the list, will be held virtually Oct. 23-27. “As always, speakers will include some of the greatest innovators and business leaders of our generation,” Inc. Magazine says.
Companies on the “Inc. 5000 2020: An Exclusive Guide to America’s Most Inspiring Entrepreneurs” are ranked based on percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016.
They had to be U.S.-based, privately held, for profit and independent — not subsidiaries or divisions of other companies — as of Dec. 31, the magazine reports.
The minimum revenue required for 2016 was $100,000; the minimum for 2019 was $2 million.
Click here to explore the complete list, which includes company profiles and an interactive database that can be sorted by industry, region and other criteria.
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