Florida Companies to Watch Shines Spotlight on Second-Stage Growing Companies

ORLANDO, Fla., Feb. 7, 2012 /PRNewswire/ -- Building on a break-out inaugural year, the 2012 Florida Companies to Watch awards program is back to recognize and award growing second-stage companies, headquartered in Florida, that have established themselves as high performance companies in their marketplace. This year's group of companies will have the opportunity to join an esteemed group of national Companies to Watch honorees recognized from across the U.S. on Friday, October 19, at the Rosen Shingle Creek Resort in Orlando.

Developed by the Edward Lowe Foundation, Companies to Watch was formed as an exclusive way to honor second-stage companies who exhibit innovative business strategies and processes. The companies recognized by this award are leading the way for second-stage companies and prove themselves to be "worth watching".

"The Florida Companies to Watch celebrates the success of companies that make a significant difference in our economy.  In Florida, they account for eight percent of the companies and more than 30 percent of the jobs," said Tom O'Neal, Associate Vice President for Research and Commercialization at UCF and Executive Director of the Florida Economic Gardening Institute.  "They are in no man's land: Too big to be small but too small to be big.  These companies make a difference and we're happy to give the kind of recognition they deserve."

The combined impact of the 50 companies chosen as the inaugural winners of 2011 Florida Companies to Watch is $419 million in total annual revenue, 1,972 fulltime equivalent employees and 510 new net jobs created compared to 2009. From 2006 through 2010, these companies generated $1.4 billion in revenue and added 1,153 employees (both in Florida and out of state), reflecting a 162 percent increase in revenue and 141 percent increase in jobs for the five-year period. That translates into a 32 percent annual revenue growth and 28 percent annual growth in employees. * December 2010 data.

"Over the last three years ECS has enjoyed a time of growth and success.   Awards such as Florida Companies To Watch, help garner visibility for the hard work and contributions of our employees, as well as the technology sector which we serve. It was a great honor to participate in the process - and ultimately to be deemed one of the FL Companies to Watch!" said Waymon Armstrong, President and CEO of Engineering and Computer Simulations (ECS), headquartered in Orlando.  

To be eligible for the award, a company must be headquartered in Florida, be a privately held, commercial enterprise that is currently in a stage of growth and past the start-up phase, with between six and 99 full-time equivalent employees and annual revenue in 2011 between $750,000-$50 million. Companies in all industries throughout Florida are invited to apply. The deadline to nominate a second-stage company is May 4, 2012 and all nominees and companies seeking to apply directly must submit an application by May 18, 2012.  Applications are available at www.florida.companiestowatch.org.

Winners will be selected by a panel of judges who represent areas of economic development, entrepreneurship, banking and small business. Judges will be looking for evidence of steady and/or high growth in employment rates and revenue as well as companies that stand out from the competition by demonstrating special strengths and traits including entrepreneurial leadership, product innovation, social/community responsibility and competitive business practices.

In addition to the recognition of being named a 2012 Florida Companies to Watch, winners have the opportunity to participate in a leaders retreat attended by Companies to Watch award recipients from other states, held at the Edward Lowe Foundation's Big Rock Valley in southwestern Michigan.

For details and sponsorship information visit www.Florida.CompaniestoWatch.org or call Lynn Aitken at 407-823-6384 or via email at [email protected].

Edward Lowe Foundation - www.EdwardLowe.org.

Florida Economic Gardening Institute -www.GrowFL.com.

Contact: Christa K. Santos
(407) 230-7018
[email protected]

SOURCE Florida Economic Gardening Institute at the University of Central Florida