Thursday, June 21, 2018
Business

Did you know? Tampa Bay has 73 of the 5,000 fastest-growing companies in the nation

A 37-employee specialized toxicology lab that provides drug testing of urine enjoyed a 4,415 percent growth rate in revenues for the past three years, making Physicians Toxicology Laboratory the fastest-growing private company in the Tampa Bay area.

The company also ranks No. 59 nationwide on the just unveiled Inc. 5000 list for 2015 — which lists the fastest-growing businesses in the country.

Physicians Toxicology Laboratory, based on Johns Road east of the Veterans Expressway, says its service helps protect physicians who prescribe drugs that could potentially be abused.

It's apparently a business in high demand.

Other top 10 companies to make the Tampa Bay list include No. 2 E-Telequote, whose 80 employees help market Medicare health insurance coverage on behalf of insurance companies; and No. 3 Nitro Mobile Solutions, a mobile app software developer that added 24 of its 26 employees in recent years.

Not all of the top 10 are health care or tech firms. At No. 8, Cabinets.com with 19 employees is an online retailer of wooden, partially customized, discount kitchen cabinets.

The annual Inc. 5000 rankings are a serious reminder of the depth and audacity of private business startups in the Tampa Bay area and the United States. In addition to astonishing growth rates that this year topped 100,000 percent in some cases, the rankings remind us of the relatively invisible small-business markets in the metro area and across the country that provide constant innovation and jobs.

In all, 73 of the 5,000 fastest-growing U.S. companies of the Inc. 5000 call Tampa Bay home. Some of the names may be more familiar to readers than the top 10, which tend to be smaller firms that find it easier to generate such enormous growth rates. Lower on the Inc. 5000 rankings here, though, are firms such as 21-employee Alakai Defense Systems in Largo (No. 2,246), online travel insurance provider Squaremouth in St. Petersburg (No. 2,703), the larger 180-employee Vology in Oldsmar (No. 2,963) and Tampa's well-publicized College Hunks Hauling Junk & Moving (No. 3,389).

Last among locals listed on the Inc. 5000 at No. 4,946 is Palm Harbor retailer the Spice & Tea Exchange, which has 14 employees and a three-year growth rate of 45 percent.

Nationwide, the No. 1 firm for growth this year is Ultra Mobile of Costa Mesa, Calif., with a three-year growth rate of 100,849 percent to $118.2 million in the telecommunications industry.

This year's Inc. 500 (the top 10 percent of the Inc. 5000) achieved a median growth rate of 1,772 percent. Three of Tampa Bay's fastest-growing firms topped that number.

Past Inc. 500 top-gainers in the Tampa Bay market include Tampa's LabTech Software, which notched a 5,208 percent growth rate, and St. Petersburg defense contractor Crystal Clear Technologies, which grew 16,000 percent.

Contact Robert Trigaux at [email protected]

     
           
Comments
Tampa tech firm Newgentek hiring 20 following expansion

Tampa tech firm Newgentek hiring 20 following expansion

TAMPA — Information technology company Newgentek plans to hire 20 new employees over the next two years following an expansion of its Tampa headquarters."In the last 90 days, the Newgentek team has grown 24 percent and is now operating at 80 percent ...
Published: 06/21/18
A tight supply cuts into Tampa Bay home sales while prices keep rising

A tight supply cuts into Tampa Bay home sales while prices keep rising

Tampa Bay’s two largest counties showed anemic home sales in May as prices continued to rise due to a tight supply. In Pinellas, sales of single-family home plunged nearly 12 percent from the previous May, the second-worst showing in a year. P...
Updated: 2 hours ago
Could Lucky’s Market move in to Clearwater’s old Albertsons?

Could Lucky’s Market move in to Clearwater’s old Albertsons?

Lucky’s Market is considering a move in to the old Albertsons box space in Clearwater, according to preliminary plans filed with the city. Lucky’s master broker, Rick Lewellyn, was listed on an agenda as discussing renovating the existing property wi...
Updated: 2 hours ago
Passengers on fatal Southwest flight sue airline and manufacturers of plane and engine

Passengers on fatal Southwest flight sue airline and manufacturers of plane and engine

Eight passengers who were aboard a Southwest Airlines flight that was forced to make an emergency landing in Philadelphia after one of its engines blew apart filed suit Wednesday against the airline, Boeing and the companies that manufactured the eng...
Updated: 10 hours ago
Former employee sued by Tesla says he was a whistleblower

Former employee sued by Tesla says he was a whistleblower

Tesla sued a former employee Wednesday, accusing the man of hacking the automaker’s computer systems and stealing company secrets, shedding light on what chief Elon Musk had suggested was the work of a secretive internal saboteur.But the employee, Ma...
Updated: 10 hours ago
Seminole Heights restaurant Mortar & Pestle files for bankruptcy reorganization

Seminole Heights restaurant Mortar & Pestle files for bankruptcy reorganization

TAMPA — Mortar & Pestle, a fledgling Seminole Heights eatery with a mom-and-pop pharmacy theme, has filed for Chapter 11 bankruptcy reorganization. Seacoast Bank was listed as the creditor with the largest unsecured claim: $1.4 million.The restaurant...
Published: 06/20/18
Developer proposes Sprouts Farmers Market for Land O’Lakes

Developer proposes Sprouts Farmers Market for Land O’Lakes

LAND O’LAKES – A Sarasota developer is proposing to turn a vacant Winn-Dixie store in central Pasco into a Sprouts Farmers Market or similar specialty grocer.Benderson Development filed preliminary plans Monday with Pasco County to redevelop the form...
Published: 06/20/18
Clearwater’s Clegg Insurance Group buys Advanced Insurance Brokerage

Clearwater’s Clegg Insurance Group buys Advanced Insurance Brokerage

CLEARWATER - Clegg Insurance Group of Clearwater announced on Wednesday it has bought Brandon-based Advanced Insurance Brokerage.The merger creates a firm with more than 2,000 customers and more than $10 million in annual premiums. Terms were not dis...
Published: 06/20/18
Wine dinners, beer projects and more will wet your whistle this summer

Wine dinners, beer projects and more will wet your whistle this summer

FILIPINO FOOD: WELCOME CHISMISHave you been to the Heights Public Market at the 73,000-square-foot Armature Works yet? It’s the buzzy food market in Tampa Heights with more than a dozen vendors offering up everything from rolled ice cream to Cuban sa...
Published: 06/20/18
Citizens considers hiking homeowners insurance rates about 8 percent

Citizens considers hiking homeowners insurance rates about 8 percent

Citizens Property Insurance Corp.’s is weighing another round of hefty rate hikes.Staffers with the state-run insurer of last resort have proposed raising the average rates for homeowners by 7.9 percent — just under the legislative cap of 10 percent ...
Published: 06/20/18