Commonwealth Worldwide Named One of the Top 100 Fastest Growing Inner City Companies in U.S. for Third Year in a Row; ICIC-Inc. Magazine Reveals 2006 Inner City 100.
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. The 2006 Inner City 100 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 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."
Highlights of the 2006 Inner City 100 list include:
--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 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.
One of the primary reasons for Commonwealth's continued growth and success is Dawson Rutter's commitment to exceptional customer care. Rutter, president and chief executive officer of Commonwealth Worldwide
stated, "In this competitive market, we are extremely appreciative of our customers. Offering our clients exceptional service is not a marketing slogan, it is one of the core tenants of our vision statement and a fundamental principal by which we operate. Exceptional customer care is not only for external customers but for employees as well. We understand that it is only from a strong, competent, and cohesive internal organization that a company can function successfully."
Opening Commonwealth's New York office in 2004 underscores Commonwealth Worldwide's belief that customer care is critical to success. Rutter stated, "We wanted to have company owned operations in cities where we have a large customer base to give them the hands on service they expect and deserve. We have developed a large number of corporate customers in New York City therefore it was fitting to open a major operation there."
Said Rutter, "We are honored to be recognized for the third year in a row on the ICIC-Inc Magazine Inner City 100 and proud of the positive impact we have had on our community."
About Commonwealth Worldwide
Commonwealth Worldwide is one of the nation's fastest growing luxury chauffeured transportation providers. Headquartered in Boston, Massachusetts, with a second operation in New York, New York, Commonwealth owns and operates more than 140 vehicles and currently serves 550 cities worldwide. For more information on Commonwealth Worldwide, please visit www.commonwealthlimo.com.
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.
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.