Baltimore Future 50 2009

Averaging an employee and revenue growth rate of 20 percent to 30 percent, the 2009 Future 50 winning companies are doing anything but slowing down, even in a challenging economic environment. Five years ago when SmartCEO launched Future 50, the winners employed 4,000 people collectively and grossed $500 million in revenue. Today, the winners employ over 5,500 individuals and generate $2 billion in revenue. Some companies are on this list for the first time, while others are entering their second, third, fourth or even fifth year.

"From the very beginning, my goal as was to build a company that was structured for long term success," says Dr. Ellen H. Yankellow, president and CEO of Correct Rx Pharmacy Services, Inc. "In today's economic environment, it is especially meaningful to have been recognized five years in a row as one of the Future 50 organizations."

Future 50 recognizes 50 fast-growing companies in Greater Baltimore based on their revenue and employee growth over the past three years. These 50 companies are comprised of technology, health and wellness, construction, finance, insurance and other industries. The average 2009 Future 50 winner has between 20 and 40 employees and generates $10 million to $15 million in revenue each year.

"I want to offer my most sincere congratulations to the Future 50, a dynamic group of some of Maryland's most successful and innovative businesses," says Maryland Department of Business and Economic Development Secretary David W. Edgerley. "We are fortunate to have such a wide range of industries represented, a true testament to the strength and diversity of Maryland's business community. This is further validation that the [state] is making the right choices for long-term economic development in Maryland, including growing our workforce, expanding Maryland's biotechnology sector and increasing the state's presence in the global economy."

In addition to honoring fast growth, SmartCEO also profiles five companies as Emerging Growth winners. These are young companies, some only two years old, who have experienced significant employee and revenue growth in the short time they've been in business.

This year's winners were asked a variety of questions regarding their key growth factors, what they predict for their company's future growth, and what advice they give to other CEOs looking to grow their companies. Jeffrey Goldscher, president of first-year winner Havit Advertising, Inc. says, "You have to look at your business as a business, not be afraid to listen to others, try new ideas and take advice when it comes. You also have to take some risks, invest in areas where you foresee growth, and be prepared to scramble when it's needed."

A commonality among this year's winners is to remain focused on retaining existing clients and capitalizing on the successful programs and services that have enabled these companies to get where they are today. Don F. Caple and Michael K. O'Malley, president and vice president of Concrete Protection & Restoration, Inc., say it's all about strategy. "One must strictly monitor both job costs and operational over to be able to adjust to market conditions," they say. With plans to expand into South Florida, Caple and O'Malley are hopeful this expansion will contribute significantly to CPR's overall growth strategies.

SmartCEO's Future 50 winners will be honored at an awards event on Jan. 8, 2008, at the Baltimore-Marriott Waterfront Hotel with over 400 C-level executives in attendance.

Editor's note: Companies represented on this list were selected through a series of criteria. Area businesses were invited to apply online in 2008. The descriptions and remarks that follow were culled from subsequent detailed questionnaires. Any remarks regarding quality of service, etc., should not be taken as the opinions of this magazine.

FUTURE 50 WINNERS

America's Remote Help Desk
www.remotehelpdesk.com

Banks Contracting Company, Inc.
www.bankscontracting.com

Barcoding Inc.
www.barcoding.com

Brick Bodies Fitness Services, Inc.
www.BrickBodies.com

Business Health Services
www.BHSsolutions.com

CBay Systems and Services Inc.
www.cbaysystems.com

Comfort Systems USA-Baltimore
www.comfortsystemsusa.com

Concrete Protection & Restoration, Inc.
www.c-p-rinc.com

Continental Technologies, Inc.
www.webcti.com

Convergence Technology Consulting
www.convergencetech.us

Correct Rx Pharmacy Services, Inc.
www.correctrxpharmacy.com