Reviewed by: Liv George
46 Alabama businesses among this year’s Inc. 5000 list
Inc.com, a media outlet dedicated to growing and reporting on private businesses in America, has released its annual list of the 5000 fastest growing companies in the country.
46 businesses located here in Alabama made the list, which is created based on companies’ three-year-growth rate. 27 of them have been previously included in the Inc.com rankings.
Some key stats for the Alabama companies on the list include:
- 8,190 new jobs
- 197% median growth rate
- 4 newly founded businesses
Keep reading to see the full list of Alabama companies who got the national recognition.
Inc. 5000
Each year, Inc.com highlights some of the fastest growing privately owned companies in the U.S. This year’s rankings are based off company’s growth from 2020 to 2023.
To qualify, the company had to be founded by March 2020. Check out the top 10 companies from Alabama + where they ranked in the national list.
- Company: LaunchTech (269)
- Growth: 1,552%
- Location: Huntsville
- Industry: IT Services
- Company: Gaines Family Farmstead (493)
- Growth: 896%
- Location: Birmingham
- Industry: Consumer Products
- Company: Velox (507)
- Growth: 871%
- Location: Huntsville
- Industry: Telecommunications
- Company: Acclinate (539)
- Growth: 823%
- Location: Birmingham
- Industry: Health Services
- Company: Rapid Fire Home Buyers (561)
- Growth: 797%
- Location: Montgomery
- Industry: Real Estate
- Company: HighFive Healthcare (798)
- Growth: 619%
- Location: Birmingham
- Industry: Health Services
- Company: 5Boys Apparel (947)
- Growth: 536%
- Location: Madison
- Industry: Consumer Products
- Company: All Products (1,066)
- Growth: 478%
- Location: Alexander City
- Industry: Retail
- Company: Global K9 Companies (1,079)
- Growth: 473%
- Location: Opelika
- Industry: Security
- Company: OneAscent (1,100)
- Growth: 465%
- Location: Birmingham
- Industry: Financial Services
Make sure to check out the full list of Alabama companies + see the full Inc. 5000 list.
Breaking down the numbers
It’s no surprise that when you’re talking about growth in Alabama, it’s the Huntsville area that tops the list. Of the 46 Alabama companies ranked, 17 of them are located in Huntsville with one more in Madison.
Here’s a full breakdown of where the fastest growing companies in Alabama are located:
- 17: Huntsville
- 12: Birmingham
- 3: Montgomery
- 2: Tuscaloosa, Mobile, Spanish Fort
- 1: Hoover, Guntersville, Mountain Brook, Owen’s Cross Roads, Trussville, Opelika, Alexander City, Madison
While most of the companies are close to the state’s two biggest metro areas, there is a much wider variety when it comes to the industries represented.
The leading industry is what Inc.com calls “Government services” which is a broad term for companies working with the government at a federal or local level, specializing in everything from logistics to product testing.
Meanwhile, health services and products accounted for the most jobs created on the list. Six companies from Alabama accounted for 5,906 new jobs.
Here’s the breakdown of which industries were represented on Alabama’s list, how many companies were in each industry + how many jobs were created.
- Government services – 9 companies – 298 jobs
- Health services and products – 6 companies – 5,906 jobs
- Financial services – 4 companies – 97 jobs
- Marketing and advertising – 4 companies – 73 jobs
- Construction – 4 companies – 543 jobs
- IT services – 3 companies – 160 jobs
- Software – 3 companies – 124 jobs
Consumer products, real estate, security, manufacturing and engineering each had two companies on the list. Telecommunications, retail and environmental services each had one.
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