Entrepreneurial styles, corporate cultures give these second-stage companies competitive advantages
CO2Meter, Inc. is among 50 statewide companies expected to see significant growth over the next several years. CO2Meter was selected from more than 500 nominees for Florida Companies to WatchSM, a statewide program managed by economic development group GrowFL, in association with the Edward Lowe Foundation.
CO2Meter’s management team, competitive market position and strong community involvement were among several factors that put them in contention for the award.
“These stand-out companies are all led by entrepreneurs, and have demonstrated their capacity and intent to grow,” said Dr. Tom O’Neal, executive director of the Florida Economic Gardening Institute and associate vice president for the University of Central Florida’s Office of Research and Commercialization. “They also all have critical intellectual property or a niche position that gives them a competitive edge in their markets,” he said.
“This is a strong group of companies that deserve this special recognition given annually to the state's top second stage companies,” said Dr. O’Neal. Second-stage companies are defined as those with six to 150 full-time employees and between $750,000 and $100 million in annual revenue. There are many programs and incubators promoting start-up businesses; GrowFL is the only Florida program that focuses exclusively on second-stage companies.
“We’re proud to be selected by Grow Florida,” said Ray Hicks, President of CO2Meter, Inc. “We started out in Michigan, but decided to move the company to Florida as we began to grow. There is a work-play lifestyle here that you don't have in the north.”
“The support from both the state and our employees here in Florida are two of the reasons we’ve had such tremendous growth and success,” Ray added.
The 50 companies named the 2016 Florida Companies to Watch generated a total of more than $1.1 billion in revenue and added nearly 1,200 employees between 2012 and 2015.
Together, the companies project a 30 percent increase in revenue and 33 percent increase in job growth in 2016.
Companies named to the list will be officially recognized November 3rd at the Hard Rock Live, Universal CityWalk, Orlando.
For more information, visit growfl.com/flctw16.