PetRelocation.com among ICIC and Fortune Magazine's Inner City 100 winners
Annual ranking showcases the 100 fastest-growing urban businesses in America.
BOSTON, May 10, 2012
BOSTON, May 10, 2012 /PRNewswire/ --The Initiative for a Competitive Inner
City (ICIC) and Fortune Magazine announced that PetRelocation.com (Rank #38)
was selected for the 2012 Inner City 100, a list of the fastest-growing inner
city companies in the U.S. 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.
PetRelocation.com provides worldwide pet transportation services for people
moving or traveling with pets.
The full list can be viewed at Fortune.com, along with PetRelocation.com's
2012 Inner City 100 profile. PetRelocation.com, which is headquartered in
downtown Austin, Texas, was the highest-ranked Austin-based company out of the
three Austin companies listed on the 2012 Inner City 100.
The rankings for each company were announced at the Inner City 100 Awards on
Wednesday, May 9, 2012 in Boston, MA. Winners attended a two-day small
business symposium featuring executive education case studies and how-to
workshops from leading content providers, including Harvard Business School,
Babson College, Boston University, Next Street and R/GA.
The Inner City 100 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.
Chevron Corporation, Staples and Goldman Sachs are long-time sponsors of the
For the 2012 list, winners represent a wide span of geography, operating in 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
"We are delighted to celebrate businesses like PetRelocation.com 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 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.
Highlights of the 2012 Inner City 100 include:
oEmploy 7,965 workers and have created 4,635 new jobs in the last five
o25% are women-owned. Nationally, only 10% of companies with over $1
million in annual revenues are women-owned.
oCompanies generated $15.3 million in revenues on average and $1.5 billion
in the aggregate.
o36% are minority-owned. Nationally, only 21% of all companies are headed
o40% of their workers are inner city residents.
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
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
PetRelocation.com offers door-to-door pet transportation services domestically
and internationally for both individual and corporate clients. These
relocation services include pre-export documentation and pick-up, customs
clearance, and delivery. The Austin, TX based company has safely transported
thousands of pets to locations all over the world. For more information, visit
the PetRelocation.com website or blog.
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