LINCOLN, Neb., June 8, 2012 /PRNewswire/ -- Data center solutions provider Geist, a division of PCE, is pleased to announce that PCE, Inc. was recently named (ranked #82) as one of the 2012 Inner City 100.
The Inner City 100 is a list of the fastest-growing inner city companies in the US, awarded by the Initiative for a Competitive Inner City (ICIC) and Fortune Magazine. The Inner City 100 program recognizes successful inner city companies and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America's urban communities.
Brad Wilson, Executive Vice President of Geist, stated, "Geist is very excited to be part of the success of PCE. Being named to the Inner City 100 is a real honor and speaks directly to our success within the United States and throughout the world."
The rankings for each company were announced at the Inner City 100 Awards on Wednesday, May 9, 2012 in Boston, MA. The list provides unmatched original data on the fastest growing inner city businesses in the U.S. In the last 14 years, 720 different companies have earned positions on the Inner City 100, collectively generating more than $2.2 billion in annual revenues and creating nearly 73,000 new jobs.
This year's winners represent 46 cities and 30 states. The 2012 Inner City 100 winners grew at a compound annual growth rate of 40 percent and an average standard growth rate of 577 percent between 2006 and 2010. Collectively, the top 100 inner city businesses employ 7,965 employees and have created more than 4,635 new jobs between 2006 and 2010. Not only are they powerful job creators in their communities, but they also treat their employees well—a stunning 93% of the list provide health insurance.
Geist provides solutions for data centers, including power, cooling, monitoring and management. Recently, Geist expanded operations in the United Kingdom and opened a sales office in China. Overall, PCE divisions have increased sales by an average of 16% each year between 2006 and 2011. This growth led to a 30% increase in professional and manufacturing jobs in its U.S. facilities. To accommodate for this growth, PCE opened a new corporate headquarters in Lincoln, Nebraska, last month.
"We are delighted to celebrate businesses like PCE, Inc., that are playing a critical role in revitalizing communities across the country. Through their achievements, the Inner City 100 winners exemplify America's remarkable potential and the future of our urban centers," said Mary Kay Leonard, ICIC President and CEO. "These extraordinary companies demonstrate the market potential that exists within our inner cities and the growth that is at the heart of all urban entrepreneurial successes."
The list is proof of the concept that doing business in an inner city area holds a distinct competitive advantage. ICIC has been studying the economic condition of the largest 100 American cities for more than a decade and is working to revitalize inner cities across the country.
The full list can be viewed at Fortune.com
Geist designs and manufactures industry leading technology and software for powering and managing critical data center infrastructure. We produce affordable, quality products while providing our clients with superior service. Whether it's enhancing customer care services or implementing new technologies, Geist promotes innovation, quality, and satisfaction in all aspects of business. www.geistglobal.com
PCE, Inc., a privately held corporation founded in 1993, is structured into two distinct business groups, Plastics and Data Center Solutions. PCE Plastics Group has three divisions with manufacturing capabilities in blow-molding, injection molding and profile extrusion. The Data Center Solutions Group designs and manufactures intelligent hardware and software for data center infrastructure management. With locations in the United States, Europe and China, PCE, Inc. is doing business in 6 continents with solutions for every size of company from just a few employees up to hundreds of thousands. PCE, Inc. employees are committed to delivering customized solutions that exceed customers' expectations. www.pce.us.com
To qualify for the Inner City 100 list, companies were required to have at least 51 percent of their operations located in an economically distressed urban area; have at least 10 full-time employees; and a five-year operating sales history that includes at least $200,000 in revenues in the first year of consideration, an increase in year five sales over year four sales, and fifth-year sales of at least $1 million. For the 2012 list, ICIC looked at total revenue growth from 2006 to 2010 and the specific rankings were based on these growth rates. An economically distressed urban area is defined by ICIC as having a 50 percent higher unemployment level, 50 percent higher poverty level, and 50 percent lower median income than the metropolitan statistical area.
Inner City 100 Sponsors:
Chevron Corporation, Goldman Sachs 10,000 Small Businesses and Staples Inc.
Initiative for a Competitive Inner City
ICIC is a non-profit research and strategy organization and the leading authority on U.S. inner city economies and the businesses that thrive there. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC expands inner city economies by providing businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. ICIC's unique knowledge and expertise about inner city success factors and thriving companies is developed from specialized urban networks and path-breaking research. www.icic.org