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Indiana Companies to Watch 2008

Indiana Companies to Watch

Fifty companies from Indiana will be honored as outstanding second-stage companies during the first Indiana Companies to Watch awards program, which will be held Aug. 27 in Indianapolis.

Companies to Watch is an awards program that celebrates Indiana privately held second-stage companies, typically those businesses which are past the startup phase, are considered to be established, and face issues of growth, not survival.

Companies honored range from traditional businesses involved in manufacturing, financial services and warehousing to high-tech companies working in the life sciences, information technology, telecommunications, or environmental or technical consulting industries.

Among the 50 honored companies is Midwest Tube Mills of Madison, IN. Midwest Tube Mills has demonstrated they are a very strong company who can identify their market and excel at a high level growth. Companies to Watch firms must employ between six and 150 full-time equivalent employees, have between $750,000 and $100 million in annual revenue or working capital in place, and demonstrate the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable strengths.

A total of 460 Indiana companies, representing 66 Indiana counties, were nominated for the Companies to Watch program. The number of firms was narrowed down to 222 businesses, from 44 counties. From that list, 133 finalists were selected in late May.

Indiana has nearly 3,800 mid-sized companies with between $5 million and $100 million in annual sales, according to a recent Indiana Chamber of Commerce Foundation study. Those companies employed more than 386,000 workers and produced more than $55 billion in annual sales.

Indiana Companies to Watch is a collaboration among the Indiana Economic Development Corp., through its Small Business Development Centers, Purdue University and the Edward Lowe Foundation.