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Fastest Growing Companies Locally, Nationally Represent Financial, Healthcare, Technology and Media; Everest Equity Company of Suffern Makes List for Sixth Time
BUSINESS
Four Rockland County companies have landed on a prestigious list compiled annually by Inc. Magazine. Ranging from financial services to healthcare to a wholesale distributor, the companies have made the annual list of America’s 5,000 fastest-growing private companies.
Rockland’s four listed companies are: ItCon of Spring Valley, Source Corp of Chestnut Ridge, The Everest Equity Company of Suffern, and Advanced Flooring of Valley Cottage.
Inc.’s released list highlights the most successful independent small businesses in the United States.
Companies on the 2022 Inc. 5000 list are ranked according to percentage revenue growth from 2018 to 2021. To qualify, companies must have been founded and generating revenue by March 31, 2018. They must be U.S.-based, privately held, for-profit, and independent – not subsidiaries or divisions of other companies – as of December 31, 2021. The minimum revenue required for 2018 was $100,000; the minimum for 2021 is $2 million.
Inc. Magazine ranks privately-held companies based on revenue growth from the three previous calendar years. Each of Rockland County’s four listed winners threw their hat in the ring to compete for a spot on the annual list of America’s fastest-growing private companies.
New York had 317 companies on the Inc 5000 list, including White Plains-based Veterinary Emergency Group (VEG), a veterinary firm specializing in after-hours emergency care of pets. VEG has a location in Nanuet. The company, which ranked 156 on the list, reported revenue growth of 3,238 percent over the past three years.
Most of the Hudson Valley companies on the list offer healthcare, financial solutions, and media companies. Nine Westchester companies are included on the Inc5000 list, while three are listed from Orange County.
All told, New York’s listed businesses represent $13 billion in revenue in 2021, 35,000 jobs added, 54 new entries and 169 that have made repeat performances including The Everest Equity Company of Suffern, that has appeared on the list for the sixth time. The Everest Equity Company at a ranking of 2,522 had 228 percent revenue growth over a three-year period. Everest Equity is a commercial and residential mortgage brokerage for commercial and residential properties. Founded in 2004, Everest previously appeared at number 4,340 (2021), 4,323 (2018), 4,161 (2016), 4,923 (2015), 4,003 (2014).
Spring Valley-based ItCon, a provider of IT support, cybersecurity services, government compliance services, and electronic medical record support to health care practices, made its second appearance on the list, ranking at number 1656, with a three-year revenue growth of 376 percent. ItCon, founded in 2008, appeared in 2021 at number 723.
Funding Source Corp, a Chestnut Ridge-based residential mortgage brokerage firm that originates and processes loans through third party lenders, came in at number 3,870. Founded in 2000, Funding Source reported 128 percent revenue growth over three years. Funding Source had previously appeared on the list in 2017 at number 1616 and again in 2018 at number 1606.
Advanced Flooring of Valley Cottage weighed in at number 3,795. The wholesale flooring distributor and showroom operator selling unfinished solid, prefinished solid, engineered wood, vinyl, and laminate flooring, founded in 2013, reported 132 percent revenue growth over a three-year period. Advanced Flooring previously made the Inc. 5000 – at number 4,668 (2021), 4,131 (2020), 2920 (2019), and 1994 (2018).
The companies have self-reported their income levels.
BlockFi, a financial services company of Jersey City in New Jersey ranked number one, with a 245,000 percent growth rate. Among the top, the geography ranged from every part of the country but those with the top rankings seem to fit in with the trends for growth companies in the health, financial, retail and logistics fields.
