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100 Fastest-Growing Inner City Businesses

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Methodology

The Initiative for a Competitive Inner City (ICIC), founded by Harvard Business School Professor Michael E. Porter in 1994, defines inner cities as core urban areas with higher unemployment and poverty rates and lower median incomes than their surrounding metropolitan statistical areas. Every year, ICIC identifies, ranks, and spotlights the 100 fastest-growing businesses located in America’s inner cities. In 2017, companies were ranked by revenue growth over the five-year period between 2013 and 2017. ICIC relies on a national network of nominating partners, including city offices, economic development organizations, and small business development corporations, to find many of the businesses that appear on this list. Key partners this year were Staples, Chevron, FedEx, Kaiser Permanente, City of Oakland, Baltimore Development Corporation, Blackstone Entrepreneur’s Network, and Urban League of Louisiana. This list was audited by the independent accounting firm AAFCPAs.

This year's 100 fastest-growing inner city companies, as ranked by the Initiative for a Competitive Inner City.

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8.

Paniagua’s Enterprises Incorporated

This year’s 100 fastest-growing inner city companies, as ranked by the Initiative for a Competitive Inner City.
Courtesy of Paniagua's Enterprises Incorporated

Founded in 1992, Paniagua’s Enterprises Incorporated (PEI) provides communication construction and engineering services to large digital services provides—such as Comcast, Verizon, and AT&T. Their President, CEO, and Founder, Jaime Paniagua, has prioritized quality and invested in giving opportunities to others as the company has grown. Ninety percent of PEI’s employees are inner city workers or minorities, and in employing them and paying them well, Jaime has helped greatly to contribute to the Baltimore community. In the future, Jaime plans to expand his company more throughout Maryland and then potentially grow into other states.

Company Information

Five-Year Growth Rate (%) 1332.63%
2017 Revenues ($M) $12151466.00
HQ Location Baltimore, Maryland
Business Leader(s) Jaime Paniagua
Title President and CEO

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