“Although the economy across the state has been very challenging this past year, we have an impressive 86 companies that not only weathered the challenges, but were able to grow at an overall average of 30.5 percent,” said Elizabeth Gatewood, director of the Johnson Center. “These entrepreneurial companies have a strong impact on the state, not only financially, but also through employment. Over the past year, these companies increased their full-time employees by an average of 25 percent.”

While 44 of the firms named were service companies, a growing number were in technology and manufacturing operations. Growth 100 firms, by the numbers:

• Of the 86 businesses named, 31 are family owned, five are minority owned and six are owned by women.

• Full-time employees at Growth 100 companies total 10,556, an increase of 4,640 from two years ago. The average number of full-time employees has risen from 69 two years ago to 124 this year.

• Total 2003 sales of $1.66 billion are projected by the Growth 100 companies.

• Thirty-five of the companies did not exist before 1995. More than a third (33 companies) are first-time winners. Harlan Bakeries and Pac-Van have been Growth 100 companies every year since 1997. More than a third are located in Indianapolis.

A few notable examples:

• C.J. Boots Casket Co. of Anderson has found a successful niche in the manufacturing and distribution of customized wood caskets. Boots learned of the demand for his product after taking over the job of building wood caskets for members of his German Baptist Church.

• Crane-based Raydar & Associates Inc. has grown from a single-employee consultancy to a 32-person firm in less than six years. Raydar engineered the Navy/Marine Corps’ EA-6B electronic maintenance complexes at Sembach, Germany, and Prince Sultan Air Base, Saudi Arabia.

• Endocyte Inc. of West Lafayette has developed and patented a new drug delivery system that tags anti-cancer drugs to vitamins, which are then delivered into cancer cells while avoiding healthy ones. The company has received nearly $21 million in corporate and government grants.

• Bloomington-based Option Six provides custom Web-based training development for large corporations including 3M, Cisco, Johnson & Johnson and Abbott Labs.

• Tri Star Engineering Inc. of Bedford provides engineering and technical services to government and commercial entities. The business, which is minority- and female-owned, specializes in providing services to small, disadvantaged businesses.

http://www.kelley.indiana.edu/jcei