Barcoding Inc. on Eighth Annual ICIC – Inc. Magazine Inner City 100

Boston, MA, April 19, 2006 – Today, the 2006 ICIC-Inc. Magazine Inner City 100 were released, and Barcoding Inc. is ranked 35th 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."

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 the 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 2006 Inner City 100 winners are attending the Inner City 100 Summit in Boston for a two-day event featuring seminars for Inner City 100 owners and managers at Harvard Business School, a reception at Moakley Federal Courthouse, and culminating in a gala awards dinner.
 
Highlights of the 2006 Inner City 100 list include:

• The Inner City 100 are 32% minority-owned, compared with just 11% nationally
• 13% Latino, 14% Black, 2% Asian, and 2% American Indian
• The 2006 Inner City 100 companies are 14% run by immigrants to the United States.
• The 2006 Inner City 100 are 20% owned by women, the highest representation of women on the list till date. Nationally, only two percent of companies over $1million are women-owned.
• The 2006 Inner City 100 created over 10,381 new jobs between 2000 and 2004 and employed over 17,181 people in 2004.
• The 2006 Inner City 100 boast an average workforce that is 44% minority
• The 2006 Inner City 100 pay an average of close to $15.00 per hour to hourly employees and  $44,000 per year for salaried employees.
• The 2006 Inner City 100 companies employ inner city residents who held nearly 35% of all Inner City 100 jobs. According to ICIC's State of the Inner City Economies project, just 23 percent of all inner city jobs overall are held by inner-city residents.

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 Barcoding Inc.
Barcoding Inc., the nationally recognized leader in data-capture solutions, helps business and government organizations deploy supply chain technology, including bar code scanners, wireless terminals, mobile computers, RFID systems, and related software. Clients include manufacturing, distribution, healthcare and warehousing companies, as well as state, local and federal agencies. Based in Baltimore, Maryland, Barcoding Inc. has eleven sales offices throughout North America.  Please visit www.barcoding.com for additional information.   

For further information about Barcoding Inc please contact David Shapiro at 1.888.860.7226 x109 or visit www.barcoding.com. 

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