Honorable Mention: Initiative for a Competitive Inner City

Detroit Metro area Educational Service Provider

edtec central, LLC receives Honorable Mention from

 ICIC and FORTUNE’s Inner City 100 winners

Annual ranking showcases the 100 fastest-growing urban businesses in America.

Detroit, MI – The Initiative for a Competitive Inner City (ICIC) and FORTUNE announced that edtec central received an Honorable Mention for the 2014 Inner City 100, a list of the fastest-growing inner city businesses in the U.S. This year, for the first time in the list’s 16-year history, the Inner City 100 consists of 10 fast-growing businesses from 10 industry categories. The 10 industry categories are: Construction; Manufacturing; Professional Services; Food and Beverage; Retail; Media and Communications; Software and Information Technology; Transportation and Logistics; Healthcare and Biotechnology; and Arts, Entertainment, and Recreation. Applicants ranked according to revenue growth against their industry peers, as well as overall. 

edtec central ranked 11th in the Professional services industry category. The Inner City 100 program recognizes successful inner city businesses and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities. Dr. Anna Amato, President and CEO of edtec central and graduate of the Center for Values-Driven Leadership at Benedictine University was thrilled at the recognition for edtec central. "It is such an honor to be recognized for the hard work and all the efforts of edtec central employees. It is inspiring to know that we are reaching youth in the inner city of Detroit and making a positive impact in the lives of students," said Dr. Amato.  The full list of winners can be viewed at Fortune.com

“It’s important to recognize businesses like edtec central that are truly driving economic growth and job creation and America’s urban cores,” said Matt Camp, President, ICIC. “We believe that inner cities hold unique competitive advantages for business and the success of these firms underscores that market opportunity.”

Highlights of the 2014 Inner City 100 include:

• Employ 8,276 workers (approximately 35% are inner city residents).
      
• Created 5,119 new jobs in the last five years.
      
• 25% have woman CEOs. Nationally, only 10% of companies with over $1 million in annual revenues are woman-owned.
      
• 35% have a minority CEO. Nationally, only 21% of all companies are headed by minorities.  
      
• Average company age is 17 years.
      
• 39% average compound annual growth rate.

Companies generated $42.2 million in 2013 revenues on average and $4.2 billion in the aggregate.

Initiative for a Competitive Inner City (ICIC)

ICIC is a national nonprofit 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 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.