IMG Again Among Inner City 100 Winners
Indianapolis, IN May 16, 2011 – International Medical Group®, Inc. (IMG®), a driving force and leader in the international health insurance market, has been named to the 2011 Inner City 100, a list of the fastest-growing inner city companies in the U.S. as determined by the Initiative for a Competitive Inner City (ICIC) and Fortune Magazine. This year marks the fifth time that IMG made the list, and its induction into the 2011 Inner City Hall of Fame. The program recognizes successful inner city companies and their CEO’s as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities. IMG placed 84th on the list.
Since the inaugural Inner City list in 1999, a select group of dynamic inner city businesses have been recognized as repeat Inner City 100 winners because of their astounding growth rates over a sustained period. These companies are showcased during their fifth year on the Inner City 100 list as Hall of Fame recipients. IMG was also named to the list in 2004, 2006, 2009, and 2010.
“2011 marks our fifth year of making the Inner City 100 list,” said Joseph Brougher, President of IMG. “We appreciate the recognition that ICIC has given us for what we have been able to achieve. This award illustrates IMG’s continued commitment to our clients and our community. We are proud to be among other great companies, and we very highly regard the award.”
“We are delighted to celebrate businesses like International Medical Group that are playing a critical role in revitalizing America’s urban communities. Through their achievements, the Inner City 100 winning companies exemplify America’s remarkable potential and the road to future economic recovery,” stated Mary Kay Leonard, ICIC President and CEO. “These extraordinary companies demonstrate the market possibilities that exist within our inner cities and the growth that is at the heart of all urban entrepreneurial successes.”
The Inner City 100 list provides unmatched original data on the fastest growing inner city businesses in the U.S. In the last 13 years, 661 different companies have earned positions on the Inner City 100, collectively generating more than $2.2 billion in annual revenues and creating nearly 70,000 new jobs. Chevron Corporation, Staples Foundation and Goldman Sachs are long-time sponsors of the program.
For the 2011 list, a record number of two thousand nominations were received. Winners represented a wide span of the U.S., operating in 51 cities and 32 states. The 2011 Inner City 100 winners grew at a compound annual growth rate of 39 percent and an average standard growth rate of 379 percent between 2004 and 2009. Collectively, the top 100 inner city businesses employ 6,720 employees and have created more than 3,227 new jobs between 2005 and 2009. Individually, the average Inner City 100 Company’s revenues were $11.4 million and have, on average, 12 years of experience since founding. This year’s winners have a median employee turnover rate of less than 12 percent (compared to 36 percent for the national average) and 96 percent of them provide health insurance to their workers.