Four U.S. 1 companies on this year’s Inc. Magazine 500 list of fastest growing privately held companies may not sound like a major achievement. But when you pro-rate that presence according to population size, it turns out to be a major accomplishment.
In its current issue Inc. Magazine does just that and the Trenton metro area – of which the Princeton-Route 1 corridor is a part – placed third on the national list.
With 8.5 companies on the Inc. 500 list per million residents, the Trenton metro area is bested only by Provo-Orem, Utah (with 13.27 companies) and by Washington, D.C. (with 8.97 companies). It is ahead of Portland, Austin, Greenville (South Carolina), Raleigh, Boston, Indianapolis, and Salt Lake City.
New Jersey’s statistics shine only when compared to the company/people ratio. No New Jersey cities are in the top 10 list for the most companies without a comparison to population. As a state, New Jersey is hanging on to a spot in the top ten, tied with Ohio for ninth place. The four fast-growing companies in the U.S. 1 area include:
SysMind LLC, 38 Washington Road, Princeton Junction 08550; 609-897-9670; fax, 609-897-9676. Venkata Gorty, founder and CEO. Home page: www.sysmind.com
Ranked number 141, SysMind is located in the octagonal building near the Princeton Junction train station. It offers software and consulting for the financial services industry. It says that all employees are conversant with the stock market.
SysMind had 731 percent growth over three years. With 75 employees, the six-year-old firm had $6.9 million in revenue.
Epam Systems, 989 Lenox Drive, Suite 305, Lawrenceville 08648; 609-844-0400; fax, 609-844-0415. Arkadiy Dobkin, CEO. Home page: www.epam.com
Ranked number 161, the Russia-based computer consulting firm was founded by a native of Minsk and has its North American headquarters on Lenox Drive. Inc. magazine says its secret to success is that software engineers in Russia, Belarus, Hungary, and Ukraine have the same credentials as those in U.S. but are paid half the salary.
Epam scored more than 678 percent growth over three years. The nine-year-old firm had $40 million in revenue last year. By the end of the year it had hired 1,400 employees (600 more were hired this year). Based on its low salaries (only 60 workers on Lenox Drive), Epam claims an 18 percent profit. It made the list in 2002 and 2005.
Albridge Solutions/StatementOne, 1009 Lenox Drive, Suite 204, Lawrenceville 08648; 609-620-5800; fax, 609-620-5801. Gregory Pacholski, CEO. www.albridge.com
Ranked number 281, Albridge Solutions has enterprise data management and accounting solutions for the financial services industry. The "web-based software helps consolidate information from various accounts, which gives clients a more holistic sense of their financial lives, and helps financial services companies keep up with regulatory requirements," says Inc.
The firm scored more than 475 percent growth over three years. With 104 employees, the six-year-old firm has $25.5 million in revenues. It made the Inc. list last year.
The Brokers Group, 512 Executive Drive, Montgomery Commons, Princeton 08540; 609-924-8900; fax, 609-924-8929. Dan Reynolds, CEO. www.thebrokersgrp.com
Ranked number 398 on the Inc. list, the Brokers Group is a staffing firm for the IT, clinical, finance, and accounting industries. It also has offices in Philadelphia and New York. The Brokers Group grew 361 percent over three years. With 75 employees, the five-year-old firm has $7.3 million in revenues. The founder, Dan Reynolds, was a finalist for the 2006 state Ernst & Young Entrepreneur of the Year program.