Outstanding Leadership, Culture, and Growth Make these Second-stage Businesses Stand Out
Orlando, FL – November 12, 2020
Multicom is pleased to be among the top 50 second-stage companies in Florida selected as a 2020 GrowFL Florida Companies to Watch honorees, a statewide competition that identifies companies expected to see significant growth over the next several years.
Companies to Watch was developed by the Edward Lowe Foundation as a unique way to recognize and honor second-stage companies that demonstrate high performance in the marketplace with innovative strategies and processes, making them “worth watching.” GrowFL received more than 400 nominations for the award this year.
82 finalists were announced earlier this year, and the 50 honorees were selected after a final round of judging by a panel of independent judges comprised of past honorees, economic development leaders and corporate partners of GrowFL. Companies were judged on a number of criteria including: growth in number of employees; impact of the business in the job market; increase in sales and/or unit volume; current and past financial reports; innovativeness of the product or service; response to adversity; and contributions to aid community-oriented projects.
“These stand-out companies are all led by entrepreneurs, and have demonstrated not only their willingness to grow, but their capacity to do it successfully,” said Dr. Tom O’Neal, GrowFL Founder. “They are all positioned to make a significant impact on Florida’s economy with their products, services, critical intellectual property or a niche position that gives them a competitive edge in their markets. These business owners demonstrate strong leadership, philanthropic involvement, perseverance and all it means to be an entrepreneur.”
“We are very proud to be recognized with such distinguished past and present honorees. GrowFL has been very meticulous about how they choose their honorees and we are honored to be distinguished with so many outstanding companies. For that we thank you,” said Sherman Miller, President and CEO of Multicom, Inc. “Multicom has always strived to strategically position itself in a number of markets, and always mindful to support local businesses, especially during this very challenging time. To be recognized for this, as well as how we have handled our business growth model, is a big boost of morale and esteem for our company.”
“The 50 second-stage companies named as GrowFL Florida Companies to Watch Honorees reflect the exceptional leaders who are making a difference in growing and diversifying the state of Florida,” said Jennifer Barrows, Chairman of the GrowFL Advisory Board and Business Development Executive with Withum. “Second-stage companies are defined as those with 6 to 150 full-time employees and between $750,000 and $100 million in annual revenue. As the only organization in Florida that focuses exclusively on this state of business, GrowFL works to develop program specifically to support and celebrate them.”
From 2016 through 2019, these companies generated $813 million in revenue and added 668 employees, reflecting a 103% increase in revenue and 113% increase in jobs for the four-year period. That translates into a 27% average annual revenue growth and 20% average annual growth in employees.
Even through the pandemic, these companies projected continued growth in 2020, with a 15% revenue increase and 17% growth in employees compared to 2019. If their projections hold, these companies will have generated $1.14 billion in revenue and added 887 employees over the last five years — a 133% increase in revenue and 150% increase in jobs since 2016.
Companies named to the list will be officially recognized at the 10th Annual GrowFL Florida Companies to Watch Celebration on February 18, 2021 at the Hammock Beach Resort and Spa in Palm Coast, FL. The event will also be broadcast live. Tickets are on sale now. For more information or to purchase tickets, visit https://www.growfl.com/flctw20/about-flctw/
Headquartered in Orlando, FL, and maintaining sales offices, rep agencies and sub-distributors throughout North and Latin America, Multicom stocks over 20,000 products from more than 380 of the world’s major manufacturers. These products are used to acquire, process, and distribute audio, video, data, energy, and traffic control signals over fiber optic, copper, and coax cable.
For more information, call 1-800-423-2594, email to email@example.com or visit www.multicominc.com.