Magazine

CityParking Listed on ‘Inc. 500|5000’ With 3-Year Revenue Growth of 79%

By John Van Horn

Inc. magazine has named CityParking Inc. of Richmond, VA, among the nation’s fastest-growing private companies. Ranked at No. 2779, it was the only parking company on the 2011 “Inc. 500|5000” list, which represents, the magazine said, “the most comprehensive look at America’s independent entrepreneurs.”
The list, ranked according to percentage revenue growth when comparing 2007 to 2010, recognizes standout companies growing and creating jobs. City Parking showed a 79% growth in revenue in that three-year period, from $2.2 million to $3.9 million.
A state-certified woman-owned small business, family-run CityParking manages more than 3,600 spaces in downtown Richmond. It’s also considered a pioneer in applying Apple technologies and “cloud computing” for real-time parking space management.
“As the only parking company to make this year’s list, we are very proud to be recognized by Inc. magazine,” said Gloria K. Sharrar, Principal and Chair.
The company has been serving the Richmond parking market since 2004 under the premise of “creating innovative parking solutions and services based on the principles of efficiency, experience and integrity.”
“In a very competitive market, we closely follow commercial real estate activity downtown, which allows us to find long-term parking solutions for our customers,” Sharrar said.
The companies on this year’s Inc. 500|5000 list report having created 350,000 jobs in the past three years. Aggregate revenue reached $366 billion, up 14% from last year, the magazine added. The median growth rate of the listed companies remained at 94% – rather impressive, it noted, given the stagnant economic environment.
“Now more than ever, [the nation depends] on Inc. 500/5000 companies to spur innovation, provide jobs and drive the economy forward,” said Editor Jane Berentson. “Growth companies, not large corporations, are where the action is.”
Online retailer Ideeli topped the 2011 Inc. magazine list. Other businesses included Spirit Airlines, Vizio, Honest Tea, Dunkin Donuts and Metrokane, makers of the Rabbit corkscrew.

Article Abstract from October, 2011




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