For the second-straight year, officials for the Initiative for a Competitive Inner City (ICIC) and FORTUNE magazine rank Los Angeles-based Ace Exhibits among the “2013 Inner City 100” fastest-growing urban businesses list.
The list recognizes the top 100 fastest-growing businesses and their CEO’s in urban communities across the United States for entrepreneurship, innovative business practices and job creation. This year, Ace Exhibits, a manufacturer and retailer of tradeshow display products, ranked 48th on the list.
“It is an honor to be recognized as one of the fastest-growing inner city companies for the second year in a row by the ICIC and FORTUNE magazine,” said Tom Hand, president and CEO, Ace Exhibits. “Our dedication to cost-effective tradeshow solutions and online marketing strategies has allowed us to be a leader in our industry. It has allowed us to create jobs for our local community and take part in rebuilding the economy.”
Upward trending growth and sales has allowed Ace Exhibits to grow at a rate of 26 percent within a five-year period and post more than $5.6 million in revenues in 2011. The company currently employs a total of 40 individuals. Ace Exhibits’ downtown Los Angeles location allows for inner city economic prosperity, which is in-line with ICIC’s mission to provide private sector engagement that lead to jobs, income and wealth creation for local residents.
“We are excited to celebrate inner city businesses like Ace Exhibits whose success stories are not told nearly enough,” said Mary Kay Leonard, president and CEO, ICIC. “These entrepreneurs are driving economic forces in America’s urban cores and growing their communities along with their businesses.”
The 2013 Inner City 100 winners represent a wide span of geography, operating in 48 cities and 27 states. Those who made the list this year grew at a compound annual growth rate of 36 percent and an average standard growth rate of 411 percent between 2007 and 2011. Collectively, the top 100 inner city businesses employ 10,391 people and have created more than 5,863 jobs between 2007 and 2011. Not only are the winners powerful job creators in their communities, but 56 percent of them provide onsite training programs.
Ace Exhibits is a leading manufacturer and retailer of tradeshow display products. Ace Exhibits sells to retail and distribution channels, offering a wide range of tradeshow products from simple pop-up displays to elaborate display packages with graphics. Ace Exhibits also offers portable systems, banner stands, podiums, chairs, detachable graphics, design and more.
The 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, the 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. The ICIC’s knowledge and expertise is developed from specialized urban networks and path-breaking research.