Several Fairfax County-firms have made it onto a prestigious list of America’s fastest growing companies, five of those companies sit in the top 500.
Inc. Magazine, a New York-based business publication, has just published its annual Inc. 5000 list for the fastest growing privately-held companies in the United States. The Inc. 5000 list is considered by many as a barometer of the vitality of a business community that measures the potential well-being for entrepreneurs, startups, and high-growth firms. The list covers several different sectors ranging from health and technology to banking, energy, and advertising.
This year’s list holds 213 companies that are based in the Northern Virginia area and among that number 128 firms are based in Fairfax County with five of those firms making the top 500 on the list.
According to the Fairfax County Economic Development Authority, the 213 companies on the Inc. list make up 69 percent of the 310 companies based in Virginia and 64 percent of the 331 companies in the Washington D.C. area that made this year’s list.
The highest ranked company on the list at number 75 is Annandale-based PingWind, a services provider to the U.S. Government that focuses on risk management and organizational efficiency. According to the FCEDA, PingWind is the third fastest growing company in governmental services and the third fastest growing in the state of Virginia with 5,118 percent growth over the last three years.
“Moving our corporate headquarters to Fairfax County in 2019 has put us in a fantastic ecosystem to support growth including access to tremendous employees and resources, such as the Virginia Procurement Technical Assistance Center at George Mason University,” said Aaron Moak, PingWind CEO and co-founder. “We look forward to expanding our footprint in the county and leveraging our connections here to fuel future growth.”
In addition to his position with PingWind, Moak is also an adjunct professor at George Mason University’s School of Business where his teaching focuses on supply chain management in a global economy and service operations management. He also teaches operations management at the Masters of Business level.
Three other government services companies also made the list’s top 500 rankings, this includes Herndon-based Centurion Consulting Group which came in at number 262, Fairfax-based Kreative Technologies which placed at number 411, and Old Dominion Strategies which came in at number 469.
The only non-governmental services firm to make the top 500 was Springfield-based Black Bear Technology Solutions, an IT firm which has offered services to both federal and commercial businesses since their founding in 2016. The company’s 1,413 percent growth and 156 percent in revenue growth assured them a place on the Inc. list.
“We’re honored to be included on this prestigious list,” said Kevin M. Andres, president and CEO of Black Bear Technology Solutions. “Our product is our people, and Black Bear’s success is directly attributed to the professionalism, expertise, and dedication of our team, and the superb support they provide to our clients and their mission critical requirements.”
The FCEDA has worked over the last few years to create a space that not only attracts businesses to the area such as Microsoft and StarKist but also creates a breeding ground for new and upcoming business ventures.
“The Fairfax County Economic Development Authority congratulates all the Fairfax County and Northern Virginia firms on the Inc. 5000 list this year,” said FCEDA President and CEO Victor Hoskins. “These companies represent a wide array of industry sectors and are excellent examples of the kind of success that businesses of all kinds and sizes can achieve in our region.”
Inc. Magazine ranks the companies that make their Inc. 5000 list according to percentage revenue growth from 2017 to 2020 and they must have been founded and generating revenue by March 31, 2017. These companies must be U.S.-based, privately held, for-profit, and independent and not subsidiaries or divisions of other companies as of December 31, 2020. The minimum revenue required for 2017 is $100,000 while the minimum amount for 2020 is $2 million.