Inc. 5000 list for 2022 shows 30 ranked companies from the East TN region, 115 total in the state
By Tom Ballard, Chief Alliance Officer, PYA
Inc. Magazine released its 2022 rankings of the top 5000 fastest growing privately held companies in the U.S. yesterday, and a total of 115 were ranked from the Volunteer State.
As explained on the site, the rankings are based on a three-year growth rate (2019-21) that is determined as follows: [(Recent Yearly revenue – Base Year revenue) / Base Year revenue] x 100 = total growth percentage. For those who are not mathematics wizards, the formula works like this for a hypothetical example where 2018 revenue was $3 million, and 2021 revenue is $15 million:
- $15 million minus $3 million = $12 million.
- $12,000,000 divided by $3,000,000 = 4 .
- 4 x 100 = 400
The growth rate is 400 percent.
The top three ranked companies from Tennessee – and the only ones to crack to top 100 – were in and around Nashville. The highest ranked company at #22 was Harveston Group from Franklin. Right behind it at #23 was Marie Nicole Clothing of Gallatin followed by Complete Health Partners of Nashville at #31. Overall, the greater Nashville region had 63 ranked companies, more than one-half of the Tennessee total. Memphis placed 14 on the list, and Jackson had four that were ranked.
The list of all 5,000 can be found here.
How did Chattanooga and Knoxville do? Chattanooga placed 16 on the Inc. 5000 list this year, the same number as last year. Knoxville placed 19 on the 2021 list, so it was down by about 25 percent.
- Knoxville Area: The city’s highest ranked company was Storage Pug at #575, a first-time honoree, along with three other newbies: (1) #781 – Avertium; (2) #1,512 – Boldsquare; and (3) #1,701 – 58 Foundations. The remaining 10 were on last year’s rankings: (1) #1,207 – Axle Logistics; (2) #2,107 – Boston Government Services; (3) #2,866 –AVERO Advisors; (4) #3,154 – Keystone Mortgage Group; (5) #3222 – Ole Smoky Distillery; (6) #3,548 – RCN Technologies; (7) #3,738 – KaTom Restaurant Supply Inc.; (8) #4,300 – K & P Enterprises; (9) #4,748 – PerfectServe; and (10) #4,879 – Priority Ambulance. It’s the 14th consecutive year KaTom has been on the list.
- Chattanooga Area: The Gig City had 16 companies on the list, not counting one listed as from Cleveland, TN but really in Ohio. Eight of those were classified as being in the “Logistics and Transportation” sector, reflecting the rapid emergence of that business group. In fact, four of the top five were in that space. The top four ranked companies from Chattanooga also were ranked last year. For the 2022 listing, they were positioned nationally as follows: (1) #531 – Steam Logistics; (2) #954 – Trident Transport; (3) #1,598 – Text Request; and (4) #1,858 – Network Transport. Other repeat listees from last year were: (1) #2,138 – Reliance Partners; (2) #2,686 – Syssero; and (3) #3,313 – MaxTrans Logistics of Chattanooga. The remaining Chattanooga companies making the list were: (1) #1,918 – F2F Transport; (2) #1,993 – Logistix; (3) #1,995 – KCH Transportation; (4) #2,067 – WAP Sustainability; (5) #2,071 – SAI Interactive; (6) #2,441 – WorkHound; (7) #2,781 – Bellhop; (8) #3,413 – Taimen Trucklines; and (9) #4,223 – Ambition.
- Johnson City: Crown Laboratories made the list again at #1,305.
- Cookeville: Skender-Newton Realty of Cookeville was a repeater, this time ranked #3321.
We have reached out to several of the local recipients and will have comments soon, we hope.
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