By Dave Gatton
May 30, 2011

The Initiative for a Competitive Inner City (ICIC) and its co-founder Michael Porter of the Harvard Business School has named the fastest growing inner city companies in America. In a ceremony held in Boston May 12, top honors went to CSI, a $14.9 million IT consulting firm located in Oklahoma City. Pandora Internet Radio ($50.3 million in revenues) of Oakland (CA) took second place and Prometheus Research ($3.4 million) of New Haven (CT) took third.

Porter told the audience of 100 entrepreneurs that for him this was the “most exciting day of the year,” a high complement to the audience coming from a world-renowned business scholar. Porter formed the ICIC over ten years ago to demonstrate inner cities could attract and nurture high growth businesses, which he thinks are critical to the revitalization of America’s center cities. He has put his name and reputation behind the effort.

The 100 companies, many of which were nominated by mayors, attend the awards ceremony knowing that they have made the top 100 list, but unaware of their ranking. Making the list, particularly the top ten, represents a significant public relations bonanza that can catapult a company to national recognition. Partners in naming the Inner City 100 include Fortune Magazine and CNN Money.

The companies making this year’s list are, as usual, varied in the products and services they provide. While many are in the IT, Web or video technology business, many Inner City 100 companies are consumer based, such as Raining Rose (58th rank) of Cedar Rapids (IA), which makes natural body care products, and Consumer's Choice Coffee (95th rank) of Louisville (KY), a specialty coffee and beverage services company.

The U.S. Conference of Mayors, through its Council for the New American City, has been a nominating sponsor of the Inner City 100 for 11 years, and has worked jointly with the ICIC to promote investment in inner city neighborhoods since its inception.

ICIC’s new President and CEO Mary Kay Leonard said, “We thank The U.S. Conference of Mayors for their longstanding support of the Inner City 100, and our continued collaboration on urban revitalization issues.”