FOR IMMEDIATE RELEASE:
October 9, 2017
Anchorage’s Midnight Sun Home Care among the fastest-growing
inner city businesses in America
Anchorage, AK – The Initiative for a Competitive Inner City (ICIC) and Fortune announced yesterday Midnight Sun Home Care (MSHC) made the 2017 Inner City 100 list. The list, revealed at the 19th Annual Awards and Conference in Boston on October 3rd, ranks the fastest-growing inner city businesses in America by revenue growth. MSHC ranks 96, reporting a five-year growth rate of 61 percent from 2012-2016. MSHC’s feature and the full list is available on Fortune’s website.
MSHC provides in-home care to seniors, vulnerable and injured Alaskans. MSHC CEO and President Kevin Turkington attended the awards ceremony. Turkington credits his company’s growth to its culture of relationship building, including a program incentivizing staff to volunteer. Turkington oversees a staff of 100, with a turnover rate that’s half the national average.
“The staff at Midnight Sun Home Care are truly exceptional people,” said Turkington. “They are compassionate, caring and keen on what it takes to provide care for elderly and vulnerable Alaskans.”
ICIC’s Inner City 100 list seeks to celebrate and enable urban entrepreneurship. Over the course of nearly 20 years ICIC has awarded 928 companies whose success illuminates the innovation and business growth happening in our inner cities.
“We are extraordinarily proud of these pioneering entrepreneurs who lead the way in innovation, job creation and the economic revitalization of America’s inner cities,” said Steve Grossman, CEO of ICIC.
Highlights of the 2017 Inner City 100 include:
- Employed 9,402 individuals in 2016
- Created 5,724 new jobs in the last five years
- On average, 42 percent of employees live in same neighborhood as the company
- Average company age is 16 years
- Average 2016 revenue is $13.1 million.
- 32 percent are women-owned
- 45 percent are minority-led
- 29 industries represented in the top 100
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Inner City 100 Methodology: The Initiative for a Competitive Inner City (ICIC) defines inner cities as core urban areas with higher unemployment and poverty rates and lower median incomes than their surrounding metropolitan statistical areas. Every year, ICIC identifies, ranks, and awards the 100 fastest-growing businesses located in America’s inner cities. In 2017, companies were ranked by revenue growth over the five-year period between 2012 and 2016. This list was audited by the independent accounting firm Rucci, Bardaro, and Falzone, PC.
Initiative for a Competitive Inner City (ICIC)
ICIC is a national nonprofit founded by Harvard Business School professor Michael E. Porter. ICIC’s mission is to promote economic prosperity in America’s inner cities through private sector investment that leads to jobs, income and wealth creation for local residents. Through its research on inner city economies, ICIC provides businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. The organization supports urban businesses through the Inner City 100, Inner City Capital Connections and the Goldman Sachs 10,000 Small Businesses programs. Learn more at www.icic.org or @icicorg.
Hannah Roccki, Senior Communications Associate, ICIC