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SALT LAKE CITY — With the rise of the internet and the 2008 economic downturn, several industries have stumbled into bleak futures. The Bureau of Labor Statistics projects ongoing declines for traditional newspaper and periodical publishers, tobacco manufacturers and the Postal Service, among several others.
But just as certain sectors have declined, several others have begun to flourish. FindTheCompany, a corporate research site from Graphiq, set out to find the fastest-growing company in every state. The team started with organizations with at least $100M in revenue in 2015 and year-over-year growth since 2014. It then ranked the list by three-year growth rate. The data comes from Zacks Investment Research, which collects yearly revenue data from SEC filings.
Two industries dominate the list: real estate investment trusts and pharmaceutical companies. REITs are like mutual funds for real estate — they allow a large number of investors to pool their money in a single trust, which invests in a variety of property, from residential to commercial.
The 2008 financial crisis temporarily crippled the real estate market, but the downturn provided an opportunity for growth. Now, investors are taking advantage of a surging market, which has grown tremendously over the past couple of years.
Meanwhile, Big Pharma’s rise has been steadier, and perhaps, more inevitable. People are living longer, but also suffering from even more chronic conditions. Combine those changes with ongoing unhealthy lifestyle choices (like bad nutrition and a lack of exercise), and demand for drugs has never been higher. Finally, rising incomes have allowed older citizens to spend even more on medicine. With market demand higher and customer wallets thicker, the big pharmaceutical companies have been especially successful with new, blockbuster drugs.
Let’s count down each state’s fastest-growing company, complete with figures for three-year growth rate, as well as 2012 and 2015 revenue. The list will begin with New Mexico’s top company, which has grown by a modest 7 percent, the best in the state. The list will then count up to the fastest grower of all, a New York company with a growth rate in the six figures.
*Note that no Wyoming company qualified for this list.
New Mexico: PNM Resources Inc.
3-Year Growth Rate: 7%
2015 Revenue: $1,439,082,000
2012 Revenue: $1,342,403,000
Stock Ticker: PNM
PNM Resources is an energy holding company based in Albuquerque, New Mexico. Its principal subsidiary is Public Service Company of New Mexico, which provides electric power and natural gas utility services to more than 1.3 million people in New Mexico. The company also sells power on the wholesale market in the Western U.S.*
*The company descriptions come from FindTheCompany's data partner, Zacks Investment Research.
3-Year Growth Rate: 21%
2015 Revenue: $418,442,000
2012 Revenue: $345,253,000
Stock Ticker: GBCI
Glacier Bancorp, Inc. is a bank holding company.
3-Year Growth Rate: 101%
2015 Revenue: $221,987,000
2012 Revenue: $110,280,000
Stock Ticker: SAAS
inContact, Inc. operates as a hosted, software as a service company offering a range of hosted contact handling and performance management software services, in addition to a variety of connectivity options for carrying an inbound call into its inContact suite of services.The Company sells telecom services unbundled from its inContact service offering, including dedicated, switched, toll free and data lines.The company also operates as a reseller of domestic and international long distance and other services provided by national and regional wholesale providers.It was formerly known as UCN, Inc. and is based in Midvale, Utah.
3-Year Growth Rate: 137%
2015 Revenue: $7,864,252,000
2012 Revenue: $3,316,487,000
Stock Ticker: LAD
Lithia Motors Inc. is a leading operator and retailer in the highly fragmented automotive industry. Lithia sells new and used cars and light trucks, sells replacement parts, provides vehicle maintenance, warranty, paint and repair services, and arranges related financing and insurance for its automotive customers. The company also exchanges vehicles with other dealers from time to time to accommodate customer demand and to balance inventory.
3-Year Growth Rate: 233%
2015 Revenue: $563,070,000
2012 Revenue: $169,138,000
Stock Ticker: ECOL
US Ecology, Inc., formerly known as American Ecology Corporation, provides radioactive, PCB, hazardous, and non-hazardous waste services to commercial and government customers throughout the United States. The Company operates through its subsidiaries and provides its services to steel mills, medical and academic institutions, refineries, chemical manufacturing facilities and the nuclear power industry. Its subsidiaries include US Ecology Nevada, Inc., US Ecology Washington, Inc., US Ecology Texas, Inc., US Ecology Idaho, Inc., and US Ecology Field Services, Inc. The Company operates through two business segments: operating disposal facilities and non-operating disposal facilities. US Ecology, Inc. is headquartered in Boise, Idaho.
3-Year Growth Rate: 452%
2015 Revenue: $644,677,000
2012 Revenue: $116,850,000
Stock Ticker: ZG
Zillow Group, Inc. provides real estate and home-related brands on the Web and mobile. The company focuses on home lifecycle which include renting, buying, selling, financing and home improvement. Its portfolio of consumer brands consists of Zillow, Trulia, StreetEasy and HotPads. The company's business brands includes ActiveRain, Diverse Solutions, Market Leader, Mortech, Postlets and Retsly. Zillow Group Inc., formerly known as Zillow Inc., is headquartered in Seattle.
3-Year Growth Rate: 1,517%
2015 Revenue: $177,042,000
2012 Revenue: $10,952,000
Stock Ticker: GDEN
Golden Entertainment, Inc. is a diverse gaming company which offers casino, distribute gaming and lottery services. The company's gaming divisions consists of Golden Casino Group, PT's Entertainment Group and Golden Route Operations. Golden Entertainment, Inc., formerly known as Lakes Entertainment, Inc., is based in Las Vegas, United States.
3-Year Growth Rate: 2,037%
2015 Revenue: $330,797,000
2012 Revenue: $15,476,000
Stock Ticker: INSY
Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company. It is engaged in the development and commercialization of pharmaceutical products that target the unmet needs of cancer patients, with an initial focus on cancer-supportive care. The company's cancer-supportive care and cancer therapy product candidates include Fentanyl sublingual spray and Dronabinol SG capsule. Insys Therapeutics, Inc. is based in Phoenix, Arizona.
3-Year Growth Rate: 6,942%
2015 Revenue: $572,955,000
2012 Revenue: $8,136,000
Stock Ticker: TPLM
Triangle Petroleum Corporation is engaged in the acquisition, exploration, and development of shale oil resources. Triangle Petroleum Corporation is based in Denver, Colorado.
3-Year Growth Rate: 11,839%
2015 Revenue: $130,014,000
2012 Revenue: $1,089,000
Stock Ticker: LXRX
Lexicon Genetics Incorporated is a leader in defining the functions of genes for drug discovery using large-scale knockout mouse technology. Lexicon has invented high-throughput gene trapping technology to discover thousands of genes and expand its OmniBank library of tens of thousands of mouse clones. The Company uses an integrated platform of functional genomic technologies to accelerate large-scale analysis of mammalian gene function for drug discovery.
3-Year Growth Rate: 13,789%
2015 Revenue: $630,576,000
2012 Revenue: $4,540,000
Stock Ticker: AMH
American Homes 4 Rent is an internally managed real estate investment trust. It is focused on acquiring, renovating, leasing, and operating single-family homes as rental properties. It rents residential properties primarily in Arizona, California, Florida, Georgia, and Nevada. American Homes 4 Rent is based in Malibu, California.
