FOR IMMEDIATE RELEASE:
October 4, 2018
Annual ranking by the Initiative for a Competitive Inner City published in Fortune
OXNARD, Calif. - The Initiative for a Competitive Inner City (ICIC) announced that Oxnard’s Quality Innovative Solutions, Inc.®; (QI-Solutions®) has made the 2018 Inner City 100 list of the fastest-growing inner city businesses in America, based on revenue growth. ICIC, a 25-year-old national nonprofit founded by Harvard Business School professor Michael E. Porter, promotes economic prosperity in America's inner cities through private sector investment that leads to jobs, income and wealth creation for local residents.
The list was revealed at the 20th Annual Inner City 100 Conference and Awards in Boston October 1-2. The full list is available on Fortune’s website. QI-Solutions®, led by President/CEO Bobby Mullins was ranked 59th based on its growth rate from 2013 to 2017 of 168.94%.
“Inner City 100 companies are forces of economic opportunity, optimism
Now celebrating its 20th year, ICIC’s Inner City 100 list has long celebrated
“These businesses and their owners are a testament to the impact innovation and entrepreneurship have had in rejuvenating urban areas across the U.S. Companies such as Quality Innovative Solutions, Inc.® are experiencing revenue growth and increased investment, which are in turn creating more jobs and economic opportunity for citizens in the communities where these companies call home” said ICIC President and COO, Matt Camp.
2018 Inner City 100 by the numbers:
Averagegrowth rate of 436 percent between 2013 and 2017
- Represent 46 cities in 23 states
- Employed 10,085 individuals in 2017
- Created 5,516 new jobs in the last five years
- On average, 36 percent of employees live in
sameneighborhood as the company.
- Average company age is 15 years
- Average 2016 revenue is $14.8 million
- 31 percent are women-led
- 38 percent are minority-led
- Represent 26 industries
CEOs from the winning companies were invited to the Inner City 100 Conference and Awards, two days of robust networking opportunities and educational sessions led by Fortune 500 executives and academics from top-tier universities, including Harvard Business School. Past winners have reported connecting with multi-million dollar investors as a result of appearing on the Inner City 100 list and attending the Conference.
Inner City 100 Methodology: The Initiative for a Competitive Inner City (ICIC) defines inner cities as core urban areas with higher unemployment and poverty rates and lower median incomes than their surrounding metropolitan statistical areas. Every year, ICIC identifies, ranks, and awards the 100 fastest growing businesses located in America’s inner cities. In 2018, companies were ranked by revenue growth over the five-year period between 2013 and 2017. This list was audited by the independent accounting firm AAFCPAs.
Initiative for a Competitive Inner City (ICIC)
ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC's mission is to promote economic prosperity in America's inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments