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Tech Valley Communications presents...
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Tech Valley Communications earns Inc. Magazine award for third time
More than 4,500 companies compete for Inner City 100 Awards
ALBANY, NY -- Tech Valley Communications, the only locally owned, facilities-based Competitive Local Exchange Carrier (CLEC) in Tech Valley, has earned -- for the third year in a row -- an Inner City 100 award, presented by Inc. Magazine and the Initiative for a Competitive Inner City (ICIC) for its continued financial strength and revenue growth over the past several years. Tech Valley Communications was ranked 20th on this year’s list.
The Inner City 100 Awards celebrate the accomplishments of 100 of the fastest-growing private companies located in the nation's inner cities and, according to the magazine, “these businesses constitute one of the most dynamic sectors of the economy.” They recognize businesses that are well-managed and growth-oriented, that provide meaningful jobs for inner city residents, and that contribute to the overall well-being of the community.
Tech Valley Communications also received the award in 2005 when it was ranked number three on the list; in 2004 the company was named by ICIC and Inc. Magazine as one of 20 "Companies to Watch."
“We are pleased to be recognized for our contributions to economic growth of the City of Albany,” said Kevin O’Connor, Tech Valley Communications’ CEO. “We’re committed to growing our business and increasing our revenues, and to doing so right here in Albany.”
Tech Valley Communications experienced a five-year growth rate of 731 percent from 1999 to 2004.
“For the past eight years, Inner City 100 companies have countered many misperceptions, not the least of which is that inner cities are not good locations for businesses,” said Dorothy A. Terrell, president and CEO of ICIC. “The 2006 winners make another important point: CEOs of inner city companies are among the savviest entrepreneurs in the country.”
"Albany is dedicated to promoting and assisting businesses in our city that employ our residents and contribute to the city’s economic vitality," said Albany Mayor Gerald D. Jennings. "Tech Valley Communications is a success story that makes us all proud."
In selecting Tech Valley Communications for the list, the group noted that in 2005 it had its most challenging year since its founding when unfavorable regulatory changes forced it to alter its business model and invest heavily in new technology.
"In essence, we are rebuilding the voice and data infrastructure of the region -- replacing the poorly maintained and antiquated copper infrastructure with state of the art fiber-based technology," said O’Connor.
The list of 100 companies will be published in the June issue of Inc. Magazine. Mayor Jennings presented the award to Tech Valley Communications Wednesday night at the Inner City Summit in Boston. The summit included two days of dynamic programs geared toward celebrating the achievements of the winning firms and addressing topics key to the successful growth of inner-city-based entrepreneurial ventures. The summit also included the Inner City 100 CEO Forum at Harvard Business School.
The Inner City 100 list has long been touted as representing not only the fastest-growing inner city companies but some of the largest job generators in the country. America’s leading inner city businesses have created more than 40,000 new jobs over the past 10 years.
"In creating jobs, a significant number of these companies are literally physically transforming their communities and cities as their core business. From construction, environmental remediation, real estate development, design, or some combination, these companies are focused on building 21st century cities," said Michael E. Porter, founder and chairman of ICIC.
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