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Vertex Solutions Selected as GrowFL 12th Annual Florida Companies to Watch Honoree
TOPICS & CATEGORIES
Vertex Solutions is pleased to be among the top 50 second-stage companies in Florida selected as a 12th Annual GrowFL Florida Companies to Watch honorees, a statewide competition that identifies companies expected to see significant growth over the next several years. We are excited and honored to represent Okaloosa County, the only Northwest Florida based company represented on this list. It is amazing to be part of the growth in our region. The Crestview – Fort Walton Beach – Destin, Florida Metro has one of the fastest growing high-tech sectors in the US, ranked #3 in the country.
Companies to Watch was developed by the Edward Lowe Foundation as a unique way to recognize and honor second-stage companies that demonstrate high performance in the marketplace with innovative strategies and processes. In addition to evaluating past growth and projected success, applicant companies are judged according to their special strengths and impact in their markets, communities, and within the state – thus deeming them worth watching.
66 finalists were announced earlier this year, and the 50 honorees were selected after a final round of judging by a panel comprised of past honorees, economic development leaders and corporate partners of GrowFL. Companies were judged on a number of criteria including growth in number of employees; impact of the business in the job market; increase in sales and/or unit volume; current and past financial reports; innovativeness of the product or service; response to adversity; and contributions to aid community-oriented projects.
“GrowFL Florida Companies to Watch was designed to celebrate the spirit of entrepreneurship and to shine a spotlight on the most deserving companies,” said Jennifer Taylor, president, and CEO of GrowFL. “This year’s honoree span 21 different counties, represent 22 different industries and 50% of them are woman, veteran, or minority owned. This diverse group of honorees can only mean one thing – Florida is the place where entrepreneurs thrive!”
“As a Woman Owned Small Business, we are honored and thrilled to have been selected as a GrowFL Florida Companies to Watch Award Honoree. This is a testament to the exceptional work of our dedicated employees and the customers that support us, making mini miracles happen on a daily basis. We look forward to representing Northwest Florida in this year’s group of Honorees and being a part of the GrowFL community,” said Sandra Reiter, Chairwoman and CEO, Vertex Solutions.
“These are some of the most vibrant and dedicated entrepreneurs in our state. They are the champions that keep our communities strong by stimulating the economy, keeping the workforce employed, and giving back in ways that will change the course of our state for years to come. Like all the classes before them, this class of GrowFL Florida Companies to Watch honorees truly embody success and I know they’re only getting started,” said Dr. Tom O’Neal, GrowFL founder.
To qualify for the award, companies must be headquartered in Florida and have between 6 and 150 and revenue between $750,000 and $100 million. From 2018 through 2021, these companies generated $1 billion in revenue and added 881 employees, reflecting a 96% increase in revenue and a 104% increase in jobs for the four-year period. That translates into a 24% average annual revenue growth and a 26% average annual growth in employees.
These companies projected continued growth in 2022, with a 40% revenue increase and a 20% growth in employees compared to 2021. If their projections hold, these companies will have generated $1.5 billion in revenue and added 1,233 employees over the last five years — a 174% increase in revenue and 146% increase in jobs since 2018.
Companies named to the list will be officially recognized at the 12th Annual GrowFL Florida Companies to Watch Celebration on February 23, 2023, at the Hard Rock Live in Universal CityWalk, Orlando, FL. Tickets are on sale now. For more information or to purchase tickets, visit https://growfl.com/about-growfl-flctw/.
About Vertex Solutions:
Vertex Solutions is a woman-owned small business that provides award-winning training support services to the U.S. Government and private-sector firms for more than 25 years. We specialize in integrating the latest in learning science, hardware, and software to produce the most effective training possible. We are a prime contractor for DIU’s Pilot Training Transformation (PTT) where we delivered 260 XR flight simulators making great strides towards revolutionizing pilot training. The Navy has adopted these same simulators for their T-45 training program. As of this past year, Vertex has taken our spectrum of devices developed for the USAF and is executing a plan to transfer this same technology and concept of pilot training to commercial industry.
Vertex can help your personnel Learn Faster, Retain Longer, and Perform Better.
GrowFL, through our diverse programs and services, provides proven methods to help overcome unique challenges facing second-stage companies as they grow. Second-stage growth companies have at least 6 employees and $750,000 in revenue and possess the intent and desire to grow beyond second-stage. GrowFL is proud to serve Florida as the state’s only organization focused exclusively on supporting second-stage businesses. Website: https://www.growfl.com.
About Edward Lowe Foundation:
The Edward Lowe Foundation was established in 1985 by Ed and Darlene Lowe to leverage entrepreneurship as a strategy for economic growth and community development. The foundation’s entrepreneurship initiatives focus on second-stage companies, which are growth-oriented firms that have moved beyond startup but have not yet reached maturity. Its peer learning, leadership education, and strategic information programs are geared to help these companies continue growing. For more information, visit www.EdwardLowe.org.
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