PRESS RELEASE: Great Lake GrowthWorks Honored as a 2020 Michigan Celebrates Awardee!
FOR IMMEDIATE RELEASE
Elizabeth Lawrence, Director
Great Lakes GrowthWorks
June 23, 220 (Ann Arbor, MI) – Great Lakes GrowthWorks (GrowthWorks) is being recognized as one of the 2020 awardees for the Michigan 50 Companies to Watch award, presented by Michigan Celebrates Small Business. GrowthWorks will be honored at an awards ceremony during the 16th annual Michigan Celebrates Small Business virtual gala event, July 28.
GrowthWorks, with headquarters in Ann Arbor, MI, is a strategy and innovation consulting firm dedicated to helping organizations transcend disruption and realize transformational growth. Led by a group of experienced strategists and marketers, GrowthWorks helps for-profit and nonprofit organizations of all sizes with strategic planning, mapping future opportunities and innovation, brand strategy, market research, and other growth initiatives.
"My colleagues and I are thrilled to have been selected for this award," said Phil Roos, Founder and CEO of GrowthWorks. "It reflects our commitment to helping our clients successfully navigate and thrive in a changing world. Now more than ever, our goal is to create a better future for their organizations and the communities in which they operate."
This year’s Michigan 50 Companies to Watch have made a substantial economic impact, totaling $365 million in total annual revenue for 2019. From 2016 through 2019, these companies generated $1 billion in revenue and added 723 employees (both in Michigan and out of state), reflecting a 101.9% increase in revenue and 93.8% increase in jobs for the four-year period. That translates into a 26.9% annual revenue growth and 24.8% annual growth in employees.
“Michigan’s small businesses are the lifeblood of our local economies and play a vital role in making our communities attractive places to live, work, visit and play,” said Josh Hundt, Chief Business Development Officer for the Michigan Economic Development Corporation. “As the state continues to recover from the COVID-19 outbreak, we are honored to recognize and celebrate these small businesses, which demonstrate the resilience, innovation and grit that sets Michigan apart.”
Companies nominated for the Michigan 50 Companies to Watch award must be second-stage companies, defined as having six to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants. Additionally, the companies must be privately held and headquartered in Michigan.
Judges from economic and entrepreneurship development organizations selected the 2020 winners. The judges evaluated the nominees’ demonstration of intent and capacity to grow based on the following:
Employee or sales growth
Exceptional entrepreneurial leadership
Sustainable competitive advantage
Other notable factors that showcase the company's success
Michigan Celebrates received 575 nominations for the Michigan 50 Companies to Watch award, which surpassed last year’s record of 425 nominations. In addition to a competitive landscape for this award, the businesses who are selected by the judges go through a rigorous due diligence process prior to the final decision.
For more information on GrowthWorks, visit them at glgrowthworks.com.
About Michigan Celebrates Small Business (MCSB)
MCSB is a collaboration of trusted statewide founding organizations who offer resources for small businesses. Since 2005, Michigan Celebrates Small Business awards gala has placed a spotlight on how small businesses positively impact our communities and state. The MCSB organization is focused on supporting, promoting and celebrating small businesses in Michigan.
The Manufacturing Growth Alliance is the Managing Partner of Michigan Celebrates Small Business. Founding sponsors are the Michigan Economic Development Corporation, PNC Bank, AF Group, and Dynamic Edge, Inc.
Information about Michigan Celebrates Small Business can be found at www.MichiganCelebrates.org.
# # #