Kimberly Redmond//February 28, 2024//
Three dozen companies in New Jersey made Inc.’s 2024 list of fastest-growing privately held firms in the Northeast.
Altogether, the 36 local ventures saw 171% median growth and added 2,023 jobs to the state’s economy over the past two years, according to the ranking published Feb. 26. Of the list makers, one is a newly founded outfit, while eight are repeat honorees.
According to Inc., companies are ranked by percentage revenue growth from 2020 to 2022. To qualify, entrants must be U.S. based; founded by March 31, 2020; and a privately held, for-profit, independent entity with a minimum revenue of $100,000 for 2020 and $1 million for 2022.
This year’s Regionals list recognized 1,132 companies across seven regions (Southwest, Pacific, Rocky Mountain, Midwest, Northeast, Mid-Atlantic and Southeast). Additionally, it paves the way for Inc’s well-known ranking of the nation’s top 5,000 fastest-growing ventures.
Inc. Special Projects Editor Eric Hagerman stated, “We’ve been ranking companies by revenue growth for more than 40 years with the Inc. 5000 … But with so many early stage companies fueling the U.S. economy – hiring while many big companies are announcing layoffs – we are once again opening up our signature ranking to younger companies through Inc. Regionals. Rather than looking at revenue growth over three years, as we do for the Inc. 5000, Regionals tracks revenue over two years.”
Altogether, the companies that made the cut reported $75.9 billion in revenue and added 96,129 jobs to the U.S. economy in 2022, according to Inc.
Within the Northeast, the 198 included companies saw 156% median growth, generated $15.7 billion for the region’s economy and created 14,560 jobs. The region is defined as Pennsylvania, New York, New Jersey, Massachusetts, Vermont, New Hampshire, Maine, Connecticut and Rhode Island.
Vital Contingent Planning, a New Brunswick consulting company that provides crisis staffing solutions to the health care industry, came in at No. 14. The company reported 940% growth between 2020 and 2022.
“After being named to the Inc. 5000 list for 2023, it was important for our company to continue its growth this year. We’re pleased to be named to the Inc. 5000 Regionals: Northeast list,” said Atif Chauhdry, CEO of Vital Contingent Planning.
“Our growth in our contingency planning consulting services and health care staffing has enabled VCP to launch additional services to diversify our offerings to acute and long-term care facilities nationwide,” Chauhdry stated.
Gigi Schweikert, CEO of Iselin-based early childhood day care center franchise Lightbridge Academy, said “Our placement on the 2024 Inc. Regionals: Northeast list is an honor that not only recognizes the hard work of our team but also validates our dedication to driving meaningful change in the communities we serve.”
“As we continue to expand our footprint nationwide, this prestigious acknowledgment of Lightbridge Academy’s impact and vitality within the Northeast region only spurs our drive to meet the national demand for early education child care and expand our Circle of Care to welcome more franchisees, teachers, staff, and families,” she said.