Inc. Magazine has released its annual list of the 5,000 fastest-growing companies in the U.S. for 2019, and Loudoun County is home to 29 of them.
The Inc. 5000 list is a ranking of percentage growth for privately-owned companies over the most recent three-year period.
One Leesburg-based company on the list is FedBiz IT Solutions. In 2016, the company saw 12,621 percent growth and the title of 10th fastest-growing business in the U.S. In 2017, it had 6,141 percent growth and 3,384 percent growth in 2018. It was also the fastest growing business in Virginia in each of those three years.
Owned by the husband-and-wife team of Nina and Don Tiaga, FedBiz IT Solutions is located in Leesburg's Hubzone, which they said has been “a big plus for business."
Nina Tiaga points to the company's access to skilled labor in Loudoun as well as the proximity to big systems integrations companies for helping create their growth.
“We hope to make it to the Fortune 500 list next,” Tiaga told the Times-Mirror.
Looking ahead, FedBiz IT hopes to expand its customer base to state and local, education and commercial accounts.
“Overall the IT business is always growing and expanding. Security issues are growing daily and we help solve those problems,” Tiaga said.
Two other Loudoun companies, Oseth Group and Lakarya, experienced more than 1,000 percent growth since 2015. They were joined by two other companies, ARM Consulting and The Building People, on the Inc. 500 list.
“These companies represent a cross-section of Loudoun’s diverse economy, showing rapid growth in industries from high tech to farm wineries, government contracting to real estate,” Loudoun Economic Development’s Executive Director Buddy Rizer said in a prepared statement.
This year’s list highlights nine first-time businesses, with an average growth among them of more than 600 percent. Ranked in order of growth are Oseth Group, Lakarya, Pearson Smith Realty, Softrams, Weris, CoSolutions, Adeptus Solutions, Data Storage Science and 2020 Teknology.
Additionally, 19 Loudoun companies made a repeat showing on the list, with three celebrating a sixth-straight year on the list: Lowers Risk Group, Marathon TS and WheelsOnSite USA. Another, Dfuse Technologies, made the list for the third time, but for the first time since 2015.
According to Loudoun Economic Development, the 29 companies combined for more than $500 million in revenue last year. The companies employ more than 3,000 people.