
bulbs.com on Eighth Annual ICIC - INC. Magazine Inner City 100
Worcester, Mass., April 19, 2006Today, the 2006 ICIC-Inc. Magazine Inner City 100 were released, and bulbs.com is ranked #22 on the list of the fastest growing inner-city companies in America.
Now in its 8th year, the Inner City 100 list provides unmatched original data on the fastest growing inner-city businesses in the U.S. The data comes from the Inner City 100, a ranking of the 100 fastest-growing businesses in inner city areas around the country.
For the 2006 list, over 4,500 new nominations were received. The 2006 Inner City 100 winners grew at a compound annual growth rate of 53 percent and an average rate of 655 percent between 2000 and 2004. These 100 companies have created over 10,381 new jobs between 2000 and 2004 and employed over 17,181 people in 2004.
"This year's Inner City 100 winners are located in inner cities, but their performance ranks them among the best-performing companies operating from any location, including central business districts," said Initiative for a Competitive Inner City (ICIC) President and CEO Dorothy Terrell. "For more than a decade at ICIC, we have insisted that inner cities encompass multiple competitive business advantages. This year's Inner City 100 winners have identified and leveraged every one of them and added variations of their own. Inner City 100 2006 is truly the Year of the Savvy Entrepreneur."
bulbs.com, located in the heart of Worcester, Massachusetts was founded in 1999 by CEO Steven Rothschild and has operated its headquarters and warehouse facility from 40 Jackson Street since June 2000. The company has enjoyed continued growth and currently supplies light bulbs and related lighting supplies to over 41,000 businesses operating 120,000 locations throughout the United States. Rothschild explains, "bulbs.com serves four constituencies: customers, shareholders, employees and the community and we emphasize the importance of each constituency to every employee." "Several of our 40 employees live in the city and all employees are encouraged to be involved in community activities and associations where they live," says Rothschild.
Sixty-five cities are represented on the final list. Boston, Denver, and Detroit have the most winners with five apiece. California had the most companies of any state, with 12. The list is proof of concept that doing business in an inner city area holds a distinct competitive advantage. ICIC has been studying the economic condition of the largest 100 American cities for eleven years and is working to revitalize inner cities across the country.
The record number of new nominations received this year was largely due to the Inner City 100 National Program Sponsor Merrill Lynch and nominating partners such as National Association of Manufacturers, New America Alliance, the SBA and the U.S. Conference of Mayors. For more information about the 2006 Inner City 100 list contact Deirdre Coyle at 617 292-2363 ext.242. The list can be found at www.innercity100.org.
Editor's Note:
The Inner City 100 winners are based in 65 cities. Inner City 100 companies were selected from a pool of over 4,500 nominations including 500 from Merrill Lynch and 500 from Mayors' offices. These companies were nominated from 150 cities. Criteria for the award include having at least 51 percent of operations located in economically distressed urban areas; having sales of at least $200,000 in 2000 and at least $1 million in 2004 for the 2006 list. Average annual sales for the 100 companies in 2004 was in excess of $31 million. Collectively, sales totaled more than $3.1 billion.
About Initiative for a Competitive Inner City
The Initiative for a Competitive Inner City (ICIC) is a national not-for-profit organization founded in 1994 by Harvard Business School professor Michael E. Porter. ICIC's mission is to promote economic prosperity in America's inner cities through private sector engagement that leads to jobs, income and wealth creation for local residents. ICIC brings together business and civic leaders to drive innovation and action, transform thinking and accelerate inner city business growth and investment.
About Inc
Inc is the leading magazine written for the men and women who own and manage small-to-mid-sized, 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. 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.
About bulbs.com
bulbs.com, headquartered in Worcester, Mass. is the only online light bulb supplier to offer an easy, complete purchasing process with the eSpecTM searchable database and BulbTrackTM smart reordering technology. Launched in August 1999, bulbs.com offers over 3,500 light bulbs, ballasts and light fixtures used to light commercial and residential properties. Specialty bulbs designed for use on medical apparatus, germicidal equipment and airfield runways are also offered. The bulbs.com Lighting Call Center is staffed by a team of Lighting Specialists trained to guide end users in selecting lighting solutions that optimize light output and energy efficiency. The company is located at 40 Jackson Street, Worcester, Massachusetts, 01608, and can be reached by telephone at 508-363-2800 or on the Web at www.bulbs.com.