To be the top 500 in anything in this world, you have to be pretty good. While the Fortune 500 is the most respected list of large corporations, the Inc. 500 is the prestigious of the fastest-growing small companies. Such names as Microsoft, E*Trade and Domino’s Pizza are just a few of the now-large companies that have appeared on the list.
We would like to congratulate the two West Virginia companies on this year’s Inc. 500 list: #15 beBetter Networks and and #323 Innovative Management and Technology Services (IMTS).
beBetter Networks of Charleston, lead by CEO Ralph Gaines, ended up #1 in growth in the healthcare category with a blistering 6600% growth rate over a three year period. beBetter provides wellness programs for companies that help their employees live a healthier lifestyle, thereby reducing costs and increasing productivity.
IMTS, based in Fairmont, provides advanced computer services using grid technologies to the federal government and leading integrators. IMTS, which grew 889% in three years, is one of several growing tech companies in West Virginia’s North Central technology region.
Other highly rated growth companies in West Virginia who made the broader Inc. 5000 list included Morgantown-based Centra Bank, August Systems, and KeyLogic Systems, and Scott Depot-based Advanced Technical Solutions.
For West Virginia to grow out of the basement in categories such as job growth, entrepreneurial vibrancy and household income, we need a bucket load of “gazelle” (fast-growth) startup companies like these to permeate all parts of West Virginia. We encourage our state business and government community to make stimulation of a healthy entrepreneurial community our #1 priority.
Why is this so important? First, these companies are based in West Virginia and can make decisions that support their community and state. One of the challenges West Virginia faces is that it has very few healthy, profitable, growing companies based here. Almost all major banks are headquartered outside the state, as are most large coal and energy companies. This impacts the charitable and community giving priorities, as well as the business decisions these firms make when it difficult decisions need made.
Second, fast-growing companies can influence the image of a region. What was Seattle before Microsoft? Primarily a manufacturing and defense contracting town (Boeing) with high unemployment. One company can have a huge influence on the image and growth of new industry segments.
Congratulation to this year’s Inc. 500 winners, and here’s hoping we see even more in future versions of the list!
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