OAKLAND, Calif., Oct. 18 /PRNewswire/ -- Xantrion Inc., a leading provider of personalized IT services for small and midsized companies in the San Francisco Bay Area, has been named to the 2010 Inner City 100 list recognizing the fastest-growing inner city businesses in America. Run by Initiative for a Competitive Inner City (ICIC) and Bloomberg BusinessWeek, 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.
Xantrion delivers personalized IT services to small and midsized companies in the San Francisco Bay Area. The company's consultative approach, 24/7 help desk, fixed fees, and 99.95 percent average system availability make it a dependable partner for both one-time projects and ongoing IT support, with a portfolio of services ranging from computer network design to full-service hosting.
The Inner City 100 list provides unmatched original data on the fastest-growing inner city businesses in the U.S. In the last 12 years, 607 different companies have earned positions on the Inner City 100, collectively generating more than $27.2 billion in revenues and creating nearly 72,000 new jobs.
For the 2010 list, a record number of nominations were received. Winners represent a wide span of geography, operating in 58 cities and 34 states. The 2010 Inner City 100 winners grew at a compound annual growth rate of 37 percent and an average standard growth rate of 340 percent between 2003 and 2008. Collectively, the top 100 inner city businesses employ 10,700 employees and have created more than 6,300 new jobs between 2004 and 2008.
"We are delighted to celebrate businesses like Xantrion that are playing a critical role in revitalizing America's urban communities. Through their achievements, the Inner City 100 winning companies exemplify America's remarkable potential and the road to future economic recovery," said Mary Kay Leonard, ICIC president and CEO.
Eighty-five percent of companies expect steady growth and 27 percent expect their revenues to grow more than 30 percent. Individually, the median Inner City 100 company's revenues were $6.6 million. This year's winners have a median employee turnover rate of less than 8 percent and 96 percent of them provide health insurance to their workers.
The list is proof of 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.
SOURCE Xantrion Inc.