By GREGORY ZELLER //
With just under 1 percent of the Inc. 5000’s fastest-growing companies, Long Island is still solidifying its new-economy reputation – but for innovation’s sake, those 40 fleet firms don’t disappoint.
As befitting a 21st century corporate growth chart, IT dominates Inc.’s 35th annual list, which ranks percentage revenue growth between 2012 and 2015 among companies meeting specific criteria: founded and producing revenue by March 2012, privately owned as of Dec. 31, 2015
The list’s tech-heavy focus extends to Long Island, where a host of engineers, consultants and programmers provide everything from data analytics to electronic payroll processing to e-commerce services. Topping the Island entries is Freeport-based Tal Depot Inc., an online-portal grocery-delivery service that promises to save time while promoting healthier food choices.
Launched in 2012, Tal Depot reported $14.9 million in 2015 revenue, or roughly 7,000 percent growth since March 2012. While impressive, that percentage revenue growth – 6,988 percent, to be exact – was only good for 30th overall on the Inc. 5000.
Los Angeles-based Loot Crate – a 2012 startup offering monthly mystery crates filled with gadgets and apparel to 60,000 subscribers from the geeks-and-gamers set – topped the list with $116.2 million in reported 2015 revenues, creating a modest 66,789 percent revenue increase over two-plus years.
Tal Depot was not the only tech-savvy Long Island firm cracking the 2016 Inc. 5000. Other ranked IT-focused Island companies included Hauppauge-based ArroHealth ($42.1 million in 2015 revenues, 990 percent growth, No. 386 overall), a national provider of technology-enabled risk-management and Healthcare Effectiveness Data and Information Set services for provider organizations, and GetVoIP ($2.2 million, 661 percent, No. 591), a Great Neck-based “cloud communications advisor” for Voice Over Internet Protocol customers.
Other fast-growing Island IT firms: Melville multimedia-communications provider IIT Inc. ($29 million, 594 percent, No. 658), Valley Stream global freight-management data solutions provider Trinity Logistics USA ($238 million, 307 percent, No. 1,583) and Uniondale integrated IT-services provider New York Global Consultants ($5.5 million, 235 percent, No. 1,603).
Tech firms, however, aren’t alone in Long Island’s fast lane. For instance, while it has strong e-commerce ties, Bay-Shore based Ruby Has Fulfillment ($3.3 million in 2015 revenue, 1,458 percent growth, No. 272 overall) is focused primarily on warehousing, packing and shipping.
And while it markets itself primarily through social media, West Babylon-based Gamma Labs ($8 million, 926 percent, No. 416) makes its bones as a manufacturer/distributor of all-natural supplements and energy drinks.
Topping the Island’s non-tech entries on the Inc. 5000 is the National MedTrans Network, a Ronkonkoma-based medical-transportation provider. National MedTrans claimed $73.7 million in 2015 revenues, a two-year-plus growth rate of 1,765 percent good for 226th overall on Inc.’s rundown.
Other non-tech LI firms making the list include Great Neck-based Nassau National Cable ($6.7 million, 291 percent, No. 1,323), a distributor of aluminum and copper wire and cable, and Deer Park based used-electronics reseller Guzu Inc. ($2.1 million, 194 percent, No. 1,922).
The 40 Island enterprises making the list are actually lumped into Inc.’s “New York City” tally, helping make NYC the list’s fastest-growing “metro area” with 400 companies. That bests Washington (360), Los Angeles (284) and notable growth-oriented cities including Boston (148) and San Francisco (141).
While the Long Island entrants cover the creative-innovation spread, the nation’s three fastest-growing industries – Energy, Media and Education, according to Inc. – each carries a specific IT focus. Tech-heavy industries such as Financial Services, Software, Engineering, Telecommunications and IT services are also among Inc.’s fastest-growing.
California is the nation’s fastest-growing state, according to Inc., with 666 companies on the 2016 list. New York (335 companies) finished fourth, behind Texas (395) and Florida (338).