Boynton Beach, FL (PRWEB) November 20, 2012
Boca Bearing Company, http://www.bocabearings.com, has been recognized as a recipient of the 2012 Florida Companies to WatchSM award, an honor presented by the Florida Economic Gardening Institute (GrowFL) at the University of Central Florida. In its 2nd year, Florida Companies to Watch is presented by SunTrust Banks and the University of Central Florida in association with the Edward Lowe Foundation and with special support from the Florida Department of Economic Opportunity.
Fifty companies from across the state of Florida will receive their recognition at an awards gala on Friday, October 19 at the Rosen Shingle Creek Resort in Orlando, Florida.
Florida Companies to Watch is an awards program that celebrates privately held second-stage companies headquartered in the state. To be eligible, applicants must employ between 6 and 99 full-time equivalent employees and have between $750,000 and $50 million in annual revenue or working capital in place. Awardees are selected for demonstrating the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage, outstanding corporate culture, inspired community giving and other notable strengths.
Among the honorees in 2012 is Boca Bearing Company.
Boca Bearing Company, headquartered in Boynton Beach, FL, is one of the most trusted names in ceramic bearing and lubrication technology. The reduction of rolling resistance and conservation of energy has been the company's hallmark since 1987. Boca Bearing Company is a one-stop-shop for everything from prototyping to production. Never a minimum order and wholesale accounts are available.
About second-stage businesses and Florida Companies to Watch
Florida Companies to Watch is unique because of its focus on second-stage companies and the wide-ranging industries they represent. The impact of these companies on Florida’s economy is immense, and this year’s honorees are examples of such companies in the state. During 2007-2009, Florida’s resident companies averaged more than 110,000 second-stage establishments according to YourEconomy.org, an online resource of the Edward Lowe Foundation. Those second-stage companies employed nearly 2.5 million workers.
Looking at the contributions of these companies, nearly 6 percent of Florida’s resident establishments were in the second-stage category, however, they generated 31 percent of jobs in the state.
About the program presenters:
Economic Gardening is a philosophy that embraces strategies to grow existing businesses in a community, region or state and is the basis for the entrepreneurship programs at the Florida Economic Gardening Institute (GrowFL). Initially created in 2009 as a pilot program, GrowFL, at the University of Central Florida, is now a critical component to Florida’s entrepreneurial ecosystem and the state’s overall economic development strategy. GrowFL focuses its efforts on initiatives that strengthen the service offerings of entrepreneurial support organizations throughout Florida and by delivering critical research and strategy support to help second-stage growth entrepreneurs prosper. GrowFL has helped more than 400 companies create more than 1,400 new jobs statewide since 2009. Website: http://www.growfl.com
SunTrust Banks, Inc.
SunTrust Banks, Inc., headquartered in Atlanta, is one of the nation's largest banking organizations, serving a broad range of consumer, commercial, corporate and institutional clients. As of March 31, 2012, SunTrust had total assets of $178.2 billion and total deposits of $130.0 billion. The Company operates an extensive branch and ATM network throughout the high-growth Southeast and Mid-Atlantic states and a full array of technology-based, 24-hour delivery channels. The Company also serves clients in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the Company provides mortgage banking, insurance, brokerage, investment management, equipment leasing and investment banking services. SunTrust's Internet address is http://www.suntrust.com.
About the Edward Lowe Foundation
The Edward Lowe Foundation inspired the creation of the Companies to Watch program to celebrate second-stage entrepreneurs and their companies. Established in 1985, the Edward Lowe Foundation is a Michigan-based nonprofit organization that supports entrepreneurship through recognition, education and research with a focus on second-stage companies—those that have moved beyond the startup phase and seek significant, steady growth. The foundation also encourages economic gardening, an entrepreneur-centered strategy providing balance to the traditional approach of business recruitment. For information, visit http://www.EdwardLowe.org.
About Florida Department of Economic Opportunity
The Florida Department of Economic Opportunity combines the state’s economic, workforce and community development efforts. This new approach helps expedite economic development projects to fuel job creation in competitive communities. For more information, including valuable resources for employers and job seekers, please visit http://www.floridajobs.org.
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