By: Deborah Johnson Wood
Of the 50 dynamic companies honored in this year's Michigan 50 Companies to Watch list, five of them are generating jobs and revenue in West Michigan.
The five companies are All About Learning Inc., Sparta; Alternative Mechanical LLC, Grand Rapids; Flow-Rite Controls Ltd., Byron Center; OST (Open Systems Technologies), Grand Rapids; and ThinkWise Inc., Grand Rapids. The companies received honors on April 30 during a special awards ceremony in Lansing.
Combined, all 50 Michigan companies
contributed amazing investments during the four years leading up to the
current economic turmoil: $1.1 billion in revenue (126 percent
increase) and added more than 700 employees (87 percent increase).
In 2008 the 50 firms generated $405
million in total annual revenue – a $99 million increase in total
annual revenue – and created 296 new jobs.
In addition, for 2009 the 50 companies predict a 35 percent revenue jump and 23 percent growth in employees.
The West Michigan companies, alone, predict the creation of some 14 jobs by the end of 2009.
The purpose of the awards is to
recognize second stage businesses that are doing good work today and
setting themselves up for growth, says Joy Kitamori, program production
manager with Cassopolis-based Edward Lowe Foundation.
Also considered are emotional
intelligence factors: are the companies good to work for, are they good
partners to other CEOs and other companies, and a range of features
that might make a company tick.
Nominees undergo a rigorous application
process that documents employee counts, gross revenues for the previous
three years and the current year (2008), the projected year (2009).
They also must provide detailed answers to open ended questions,
including, what makes them a company to watch, and they must detail
their philanthropy, how they use technology and innovation, and what
makes the company culture unique. A panel of eight judges determines
the 50 winners.
The Edward Lowe Foundation received 157 applications for the 2009 awards.
Source: Joy Kitamori, T.J. Becker, The Edward Lowe Foundation
Deborah Johnson Wood is development news editor for Rapid Growth Media. She can be contacted at [email protected].
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