Employment Trends has been selected by Inc. 500 as one of the year's fastest-growing Oregon Companies
October 14, 1999
Beaverton - Employment Trends, based in Beaverton, OR, has been named one of the fastest-growing companies in the country by Inc. magazine, which today released its annual ranking of the Inc. 500, America's Fastest-Growing Private Companies.
The Inc. 500, published on October 15th, is an exclusive report on the companies and CEOs who are changing the face of American business. Noteworthy alumni include such household corporate names as Microsoft, Timberland, Dominos Pizza and Patagonia.
Employment Trends is a local temporary and permanent staffing service company founded by Lori and John Boone in 1993. The company has three branches in the Portland Metro Area and is also among the Oregon Business Magazine's 100 Best Companies to Work for In Oregon and The Business Journal's 100 Fastest Growing Private Companies.
Lori Boone, Employment Trends' president says, "When John and I started Employment Trends in 1993, we envisioned a company offering superior service, driven by a team of dedicated, hardworking professionals in a great working environment. We wanted to grow personally and challenge our staff but have fun in the process. Making the list of the Inc. 500 Fastest Companies was always a personal goal. And the fact that a staffing company heads the list this year is very significant to us. Now, industry growth is being powered by the economy and Internet technology that is presenting opportunities to expand services in new ways. This industry is so exciting!"
The fastest growing company on the list was Roth Staffing (sales growth rate 20,332% from 1994-1998) which was joined by Employment Trends (sales growth increase of 766%) and 29 other staffing companies.
Low unemployment and strong economic growth created brisk demand for staffing services in 1998-99. Staffing companies helped create nearly 300,000 new jobs. Temporary help receipts increased by 16.6 percent to $58.6 billion. Offering flexibility to both employees and companies, the staffing industry continued to evolve and thrive in rapidly changing economic environment. (Annual Analysis by Timothy W. Brogan, American Staffing Association [ASA, formerly NATSS], senior manager of public information; 10/13/99). California tops the Inc. 500 with 75 companies on the list and Texas is second with 38 firms. Virginia and Massachusetts tie for third, with 27 companies each. Georgia and New York share the fourth spot (24) and Illinois (23) rounds out the top five. Oregon has five companies on the list. The sales by the 18th annual Inc. 500 companies increased by an average of 1,715% (an average of over $22 million) in just five years.
A look at the Inc. 500 by industry indicates that, as in past years, computer-related companies dominate the rankings (46% of the 500), a 10% increase from the 1998 rankings. The remainder of the list is comprised of companies from the following industries: business services (15%), consumer goods and services (10%), financial services (6%), telecommunications (5%), construction (5%), health/medical (4%), industrial products (4%), transportation (2%), media (1%) and environmental (1%).
This marks the 18th year that Inc. has charted the progress of America's most innovative and successful entrepreneurs. To be eligible for the Inc. 500, companies have to be independent and privately held through 1998, have at least $200,000 in sales in the base year, 1994, and their 1998 sales must have exceeded their 1997 sales. The ranking is based on the percentage increase in sales from 1994 through 1998. Holding companies, regulated banks and regulated utilities are not eligible. Inc. verified all information using tax forms and financial statements from certified public accountants and by conducting interviews with company officials.
Inc. is the leading magazine written for men and women who own and manage small-to-mid-sized, fast growing companies. Published 18 times per year, Inc. helps its 2 million readers by providing expert advice and practical solutions as they face the opportunities, pitfalls and rewards of growing a company.
