Jul. 24, 2008 at 10:34am
Firms experiencing rapid growth in recent years can be found around Washington.
These so called "high-impact" firms create a large number of Washington's new jobs and growth, according to a study recently released by the Office of Advocacy of the U.S. Small Business Administration.
Distributed across all industries, high-impact firms account for almost all employment and revenue growth in the national economy, the study concluded. The study finds that high-impact firms are not start-ups but are on average around 25 years old, and that they come in all size classes. They are defined as high impact if their sales have at least doubled during a four-year period and have at least doubled their employment during that time.
"High-impact firms are important to Washington's economic growth and development," said Chad Moutray, Chief Economist for the Office of Advocacy. "State policy makers would be wise to consider how their policies can encourage such firms."
Of the 376,604 high-impact firms identified by researchers nationwide, 8,919 are located in Washington. That number represents 2.37 percent of Washington's firms.
Posted in BE Daily, Lewis County, Mason County, Pierce County, South King County, Startups/Minority Businesses, Tacoma, Technology, Thurston County, Workforce by Steve Dunkelberger | Email Steve
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