AE Works Among ICIC and FORTUNE’s Inner City 100 winners

September 28th, 2016

The Initiative for a Competitive Inner City (ICIC) and FORTUNE announced that AE Works Ltd. was selected for the 2016 Inner City 100, a list of the fastest-growing inner city businesses in the U.S.  This announcement comes on the heels of AE Works embarking on what will be the firm’s largest growth period over its nearly ten-year history.  

ICIC’s Inner City 100 is an annually compiled and released list featuring high-power, high-potential businesses from around the country with headquarters in inner cities. Each company is selected by ICIC with help from a national network of nominating partners who seek to identify, spotlight, and further enable the named companies’ innovative urban entrepreneurship. The full list can be viewed on the Fortune website here.

With a vision to create a world where everyone is relevant, recognition on the Inner City 100 is especially meaningful to the team.  As a Certified B Corporation, AE Works voluntarily meets a higher standard of transparency, accountability, and performance, harnessing the power of business to solve social and economic problems.

“As firm that evolved from a startup to emerging firm and an established firm, we have learned what it takes to make an impact.  This list represents impact.  We are honored again to be among the companies making the Inner City 100.  This diverse group of companies representing 42 US cities is actively working to enhance the business landscape in our country, creating opportunities for jobs, innovation and community,” expresses Michael Cherock, PE, Founder and President of AE Works.

The Inner City 100 program recognizes and supports successful inner city business leaders, and celebrates their role in providing innovation and job creation in America’s cities. These companies strengthen local American economies, provide job opportunities for underrepresented communities, and drive forward economic and social development.  In the last 18 years, over 900 unique companies have earned positions on the Inner City 100 list, and alumni include Pandora, JP Licks and Angie’s List. Chevron Corporation and Staples, Inc. are long-time sponsors of ICIC and the program.

“We are extraordinarily proud of these pioneering entrepreneurs who lead the way in economic revitalization in America’s inner cities,” says Steve Grossman, CEO of ICIC, of the list of 100.

Boasting an average five-year growth rate of 458 percent between 2011 and 2015, the 2016 Inner City 100 winners represent a wide span of geography, hailing from 42 cities and 25 states. Collectively, the winners employed 7,324 people in 2015, and on average over a third of their employees live in the same neighborhood as the company.

Highlights of the 2016 Inner City 100 include:

  • Employ 7,324 workers total in 2015.
  • Created 4,696 new jobs in the last five years.
  • On average, 34% of employees live in same neighborhood as the company.
  • Average company age is 16 years.
  • Average 2015 revenue is $12.2 million.
  • 34% are women-owned.
  • 37% are minority-owned.
  • 6% of the winners are certified B-Corps.    
  • 26 industries represented in the top 100.

 

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