The Initiative for a Competitive Inner City (ICIC) and Fortune Magazine recently announced Los Angeles-based Ace Exhibits to the “2012 Inner City 100.” Ranking 10th on the list, the company has been recognized for entrepreneurship, innovative business practices and job creation. This list recognizes the top 100 fastest-growing businesses in urban communities across America.
“It is an honor to be recognized as one of the fastest-growing inner city companies,” said Tom Hand, president and CEO of Ace Exhibits. “Six years ago, we started out as a two-man shop, and our growth has allowed us to provide jobs during a sluggish economy. We believe our commitment to cost-effective solutions and a strong mixture of digital marketing strategies have been big contributors to our success.”
Ace Exhibits sells tradeshow displays with in-house printing abilities, providing a streamlined process that has generated a growth rate of 75 percent within a five-year period, and over $5 million in revenues in 2011. The company now employees over 30 individuals and has plans for an expanding closer to the downtown Los Angeles area.
“We are delighted to celebrate businesses like Ace Exhibits 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, president and CEO of ICIC. “Companies like Ace Exhibits demonstrate the market potential that exists within inner cities, and the growth that is at the heart of all urban entrepreneurial successes.”
This year’s winners are located all across the U.S., operating in 46 cities and 30 states. Over the last four years, the top 100 inner city businesses have created more than 4,600 new jobs, employing over 7,000 individuals. Health care is also a top priority for these businesses, with 93 percent of them providing health insurance, including Ace Exhibits.
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. The full list of 2012 Inner City 100 companies can be viewed online at CNN Money, a service of CNN, Fortune and Money Magazine.
Additional 2012 Inner City 100 highlights include:
- Twenty-five percent of the businesses are women-owned. Nationally, only 10 percent of companies with over $1 million in annual revenues are women-owned.
- The list of companies generated $15.3 million in revenues on average.
- Thirty-six percent of the businesses are minority-owned, as compared to only 21 percent nationally.
- Inner city residents represent 40 percent of the workforce.