In an impressive feat, three businesses located in the Springfield area have achieved remarkable growth, each reporting an increase exceeding 100% within their respective industries. This achievement has garnered them recognition on a prestigious platform, as highlighted in the latest issue of Inc. Magazine, which published its annual list of the 5,000 fastest growing private companies in the United States and Puerto Rico. This list showcases elite companies that are making significant contributions to the American economy.
The 2024 Inc. 5000 list includes three notable businesses from Sangamon County: Productive Resources, Primo Designs, and bitsIO. To qualify for this exclusive ranking, companies must be U.S.-based, privately held, for-profit, and independent—meaning they cannot be subsidiaries or divisions of other firms. Additionally, they must have generated at least $100,000 in revenue in 2020 and a minimum of $2 million in revenue during 2023. The companies are ranked based on their percentage revenue growth from 2020 to 2023, and eligibility requires that they were in operation and producing revenue by March 31, 2020.
**Productive Resources**,
An innovation-driven enterprise established in 2001 and led by a team of engineers, secured the 4,002nd rank on the list. The firm specializes in an array of services geared towards product development, validation, manufacturing, and field support. Under the leadership of owner Teresa Cushing, Productive Resources has expanded to a workforce of over 51,000 and has experienced a substantial growth rate of 113% over the past three years. This accomplishment builds on a history of accolades, including the 2016 Fortune 100 Company Diversity Supplier of the Year and the 2019 Indirect Materials & Services Supplier of the Year awards. Furthermore, Productive Resources proudly identifies as an accredited woman-owned small business.
**Primo Designs**,
A wholesale supplier specializing in branded apparel and promotional products with a strong focus on the healthcare, manufacturing, and educational sectors, ranked 4,019th on the list. Founded by Len Naumovich in 1985 from modest beginnings in the basement of a duplex, the company has evolved significantly over its 38-year history. Naumovich, a Springfield native turned entrepreneur, transitioned his passion for screen printing into a thriving business. As of 2019, Primo Designs employed 32 individuals and operated from a 15,000 square feet facility dedicated to screen printing, embroidery, and digital printing. Despite challenges posed by COVID-19, the company has achieved a commendable growth of 112% since 2021, marking its inaugural appearance on the Inc. 5000 list.
**bitsIO**,
This Springfield-based technology firm, with a compact team of dedicated employees, earned the 4,066th position on the list. Since its inception in 2001, bitsIO has distinguished itself by converting extensive data into cybersecurity solutions for its clientele. The firm was honored as Splunk Partner of the Year in both 2020 and 2022 and is actively engaged with over 100 clients. Led by CEO Kalpana Krishnamurthi, bitsIO has achieved a remarkable growth rate of 113% over the last three years and has consistently appeared on the Inc. 5000 list since 2020, previously ranking as high as 498th.
In conclusion, the inclusion of Productive Resources, Primo Designs, and bitsIO on the Inc. 5000 list exemplifies the dynamic and entrepreneurial spirit present within Springfield’s business community. These companies not only demonstrate substantial economic growth but also contribute significantly to the local and national economy. The recognition afforded to these enterprises highlights their unwavering commitment to innovation and excellence in their respective fields.
Claire Grant, a journalist specializing in business development and economic growth, provides insights into these noteworthy achievements. For further correspondence, she can be reached at [email protected] or followed on X (formerly Twitter) @Claire_Granted.
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