Hanapin Marketing has been recognized as one of the 2012 Indiana Companies to Watch, an awards program presented by the Indiana Economic Development Corporation, its Small Business Development Center and the Edward Lowe Foundation.
Twenty-five companies from Indiana will be honored as outstanding second-stage companies during the fifth annual Indiana Companies to Watch awards program, held on August 23 in Indianapolis.
Companies to Watch is an awards program that celebrates Indiana’s privately held second-stage companies, typically those businesses that are past the startup phase, are considered to be established, and face issues of growth, not survival.
Companies honored range in industries and have headquarters based in 13 counties throughout the state.
About Indiana Companies to Watch
Companies to Watch firms must employ between six and 150 full-time equivalent employees, have between $750,000 and $100 million in annual revenue or working capital in place, and demonstrate the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable strengths.
This year the program attracted more than 160 nominees and applicants. From that pool, 63 finalists were selected, and 25 companies emerged to become the 2012 class of Indiana Companies to Watch.
This awards program is unique because of its focus on second-stage companies. The impact of these companies on Indiana’s economy is tangible. During 2007-2009 Indiana’s resident companies averaged more than 32,000 second-stage establishments according to YourEconomy.org, an online resource of the Edward Lowe Foundation. Those second-stage companies employed an average of more than 773,000 workers during the period of 2007-2009.
Looking at the contributions of these companies from a different perspective, from 2007-2009 only 9.2 percent of Indiana’s resident establishments were in the second-stage category, however, they generated 37.2 percent of jobs in the state.