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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.

We have reached out to several of the local recipients and will have comments soon, we hope.

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