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DVDT Ranks 1st in ICIC - Inc Magazine Inner City 100
Date: April 29th, 2003 For Release: IMMEDIATE Boston, Massachusetts – The Initiative for a Competitive Inner City (ICIC) and Inc Magazine ranked DVDT 1st in the “Inner City 100,” a listing of the fastest growing companies located in America’s inner cities. DVDT was the only Atlanta based company recognized in the Inner City 100, based on 5,000 companies nominated from 155 cities. With an explosive five-year growth rate of 4,800 percent, DVDT Inc achieved the highest Inner City 100 ranking from any Atlanta company in the history of the program. The average annual growth rate for 2003 Inner City 100 companies was a stunning 647 percent for the five-year period 1997-2001. The Inner City 100 rankings are based on revenue growth of nominated companies that have at least 51 percent of their operations in economically distressed urban areas. A joint venture between Inc Magazine and the Initiative for a Competitive Inner City, the Inner City 100 recognizes growing companies located inside cities and focuses public attention on the role those companies play in creating jobs and rebuilding the economies of America’s inner cities. The Inner City 100 companies are profiled in Inc.’s May issue. “It is an honor to be nominated among such an impressive list of companies revitalizing the economies of our inner cities,” said Dee Davis, DVDT's president and CEO. “Despite the slowing economy, DVDT is thriving,” says Davis. "We are growing the business by continually developing strategic partnerships with new clients and rolling out new, value-added products." The Inner City 100 is the brainchild of Harvard Business School professor and ICIC founder Michael E. Porter, who wanted to focus public attention on the instrumental role that entrepreneurial companies play in rebuilding the economies of inner cities. “The Initiative for a Competitive Inner City (ICIC) and Inc. Magazine created the Inner City 100 list in 1997 as a way of highlighting the fact that business opportunities exist in America’s inner cities, and that smart business owners are using the location to their advantage,” said Michael Porter, Harvard Business School professor and ICIC’s founder and CEO. “But for the past couple of years the list has been more revealing. It shows that inner-city business operators have learned how to adapt their businesses to the challenges of a down economy, to identify growth opportunities and to pursue them vigorously. The reality is, they are the leading edge of a new business model.” About Initiative for a Competitive Inner City The Initiative for a Competitive Inner City (ICIC) is a national, non-partisan, not-for-profit organization founded in 1994 by Harvard Business School Professor Michael E. Porter, following several years of pioneering research on inner-city business and economic development. With affiliates in three cities and significant on-the-ground activities in many others, ICIC has rapidly established itself as a national force in inner-city economic development. By identifying the competitive potential of inner cities; strategic location, local market demand, growth opportunities via integration with the regional economy and availability of labor, ICIC aims to build the business case for doing business in America’s inner cities. ICIC’s mission is to spark new thinking about the business potential of inner cities, thereby creating jobs and wealth for inner-city residents. For more information, please visit www.icic.org. About Inc Inc is the leading magazine written for the men and women who own and manage small-to-midsized, fast-growing companies. Published 12 times a year, Inc helps its 1.5 million readers by providing expert advice and practical solutions as they face the opportunities, pitfalls, and rewards of growing a company. inc.com (www.inc.com), the Web site for growing companies, was named Best Online Magazine by Folio and Best Overall New Publication (all media) by the Computer Press Association. |
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