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31 LI businesses on list of fastest growing private companies
Thirty-one Long Island companies were named to the Inc. 5000, an annual list of the 5,000 fastest growing companies in America compiled by the trade magazine, Inc., with two of local businesses topping out the list in the top 10 percent.
The list ranks the companies by three-year revenue growth from figures submitted by the businesses. Last year, there were 33 companies on the list from Long Island.
Two local companies made it into the top 500 on the list. They were:
-- Renegade Furniture Group of Hewlett owns a portfolio of furniture retail websites and also manufactures its own line of items. Its revenue in 2012 was $9.8 million, making its three-year revenue growth 2926%. It employs 17 people, and was ranked No. 129 on Inc.'s list.
-- Ultraflex Power Technologies in Ronkonkoma was ranked No. 299 on the link. Its revenue in 2012 was $2.2 million, making its three-year sales growth 1454%. The company employs 12 people.
To be considered for Inc.'s list, companies must have been founded by March 2009 or earlier and have at least $100,000 in revenue by 2009 and $2 million in revenue by 2012. Companies nominated themselves to Inc. and submitted their own revenue figures.
See the full Inc. 5000 list at www.inc.com/inc5000/