Raining Rose Inc. Among ICIC and FORTUNE's Inner City 100 Winners
The Initiative for a Competitive Inner City (ICIC) and FORTUNE announced that Raining Rose Inc. (Rank #50) was selected for the 2013 Inner City 100, a list of the fastest-growing inner city companies in the U.S. The Inner City 100 program recognizes successful inner city companies and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America's urban communities. This is the eighth year Raining Rose Inc. has been recognized.
The full list can be viewed at Fortune.com.
The rankings for each company were announced at the Inner City 100 Awards on Tuesday, May 21, 2013 in Boston. The Awards marked the Inner City 100 program's 15th year and launched a formal alumni network of Inner City 100 winners. Preceding the Awards celebration, winners attended a two-day small-business symposium featuring business management case studies presented by Harvard Business School professors and peer-to-peer learning sessions led by CEOs of fast-growing firms. Keynote speakers included Harvard Business School professor Michael E. Porter; Tim Westergren, founder and chief strategy officer of Pandora Media; Tom Szaky, CEO of TerraCycle; and Hamdi Ulukaya, founder, president and CEO of Chobani.
The Inner City 100 list provides unmatched original data on the fastest-growing inner city businesses in the U.S. In the last 15 years, 750 unique companies have earned positions on the Inner City 100, collectively generating more than $2.1 billion in annual revenues and creating over 76,000 new jobs. Chevron Corporation, Staples and Goldman Sachs 10,000 Small Businesses are long-time sponsors of the program.
For the 2013 list, winners represent a wide span of geography, operating in 48 cities and 27 states. The 2013 Inner City 100 winners 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 employees and have created more than 5,863 new jobs between 2007 and 2011. Not only are the winners powerful job creators in their communities, but they also help grow their employees—56 percent provide onsite training programs.