Growth firms show mettle

The Gulf Coast is well represented among a list of 50 second-stage companies on the rise compiled by GrowFL, a statewide economic development program.

The list, GrowFL's fourth annual Florida Companies to Watch report, includes nine Gulf Coast-based businesses. All the companies on the list will be honored at a dinner and awards ceremony scheduled for Oct. 23 at Hard Rock Live on CityWalk in Orlando. GrowFL, overseen by the Florida Economic Gardening Institute at the University of Central Florida in Orlando, was created by the Florida Legislature in 2009.

“Florida Companies to Watch is honored to recognize another outstanding group of stage-two companies,” says Florida Economic Gardening Institute Executive Director Tom O'Neal in a press release.
“Being selected for the Florida Companies to Watch awards program provides growing businesses the credibility and recognition that distinguish them among their competitors.” 

Companies on the list must have between six and 99 full-time employees and between $750,000 and $50 million in annual revenues or working capital. The companies, according to GrowFL, must demonstrate intent and capacity to grow in employees or sales; exceptional entrepreneurial leadership; a sustainable competitive advantage; an outstanding corporate culture; and inspired community giving, among other strengths. GrowFL received more than 500 company nominations.

The final 50, in total, reported $370 million in annual revenues in 2013, up 36% over 2012. The companies have 1,757 employees, GrowFL says in the release, and project 462 net new jobs in 2014. An executive with one of the Gulf Coast winners, Sarasota-based PPi Technologies Group CEO Charles Murray, says the award is recognition of the firm's employees.

“Internally, we talk about doing things right, once, and this means our cost controls are positive and every member of the staff understands this affects their annual bonus,” Murray says in a separate press release, from the Economic Development Corp. of Sarasota County.

While area business leaders can rightfully boast about their showing on the top 50, Orange County is one place in particular every business leader statewide should watch: The home of Orlando placed 13 companies on the top 50. The next closest counties were Brevard and Palm Beach, each with four companies on the list. Here's a glance at the Gulf Coast firms on the top 50: