Just read the article - basically, the SBA came out with a new report on small businesses that are "gazelles" that result in high job growth.
Orlando ranks dead last among all US major cities. Guess that means Lake County might be below dead last...
According to the SBA, cities that emphasize support and growth for gazelles will get higher job growth.
Important Quote:
Among large cities, the Norfolk, Va., area came in on top. No. 2 was Raleigh-Durham, N.C. Pittsburgh was No.4 and Charlotte, N.C., came in fifth. Orlando, Fla., came in last.
www.sba.gov/advo/research/rs328tot.pdf
vj
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Friday, July 25, 2008 - 8:58 AM MST
Arizona ranks second for number of high-impact job-generating firms
Phoenix Business Journal - by Cathy Luebke
Arizona ranked second among states and the Phoenix area third among the nation's 52 largest metro areas having the highest percentage of high-impact firms.
Those findings were released in a 92-page report published by the SBA Office of Advocacy: "High-Impact Firms: Gazelles Revisited."
High-impact firms are considered those that have significant revenue growth and expanding employment.
To earn its second-place ranking, Arizona had 7,463 of the so-called high-impact companies, accounting for 2.57 percent of all businesses. The count in Phoenix was 4,932 impact firms accounting for 2.5 percent of all businesses.
The study revisits some of the conclusions on rapidly growing firms made by small-business researcher David Birch in the 1980s. Birch found that rapidly growing firms, which he termed "gazelles," are responsible for most employment growth.
High-impact firms are relatively old, rare and contribute to the majority of overall economic growth, according to the new SBA study. On average, they are 25 years old and account for almost all private sector employment and revenue growth.
From 2002 to 2006 there were 376,605 high-impact firms in the United States, an increase from 299,973 between 1998 and 2002. Firms with fewer than 20 employees represented 93.8 percent of the high-impact firms, the report said.
The report also notes that high-impact firms can be found across many industries, not just technology. Revenue per employee was $286,082 per year for high-impact firms with 500 or more employees during the 2002-06 study period, compared with $203,892 per year for low-impact firms of the same size.
Alaska was No. 1 among states, with Wyoming, South Carolina and North Dakota rounding out the top five. New York finished last.
Among large cities, the Norfolk, Va., area came in on top. No. 2 was Raleigh-Durham, N.C. Pittsburgh was No.4 and Charlotte, N.C., came in fifth. Orlando, Fla., came in last.
The study also ranked midsize metro areas with Tucson landing the No. 3 spot, and small cities with Yuma claiming 10th place and Flagstaff 31st place.
