FOX CITIES CHAMBER OF COMMERCE: Inc. Magazine Names Madison IT Company to Inc. 5000 List for Fifth Consecutive Year

Fox Cities Chamber of Commerce issued the following announcement on Aug. 14.

August 14, 2019 – Madison tech companies made a strong showing on the 2019 Inc. 5000 list of fastest growing companies in the U.S. Six Madison-area tech companies appeared on the 2019 list, up from five in 2018.

Information Technology Professionals (ITP), a Madison-based managed services provider, has now been named to the list for the 5th year in a row – something only 4 % of companies are able to do.

“It’s an incredible honor to make a fifth appearance on the Inc. 5000. We keep growing because our clients are busy leveraging the latest tech tools to expand what they can accomplish,” says Paul Hager, ITP’s CEO and owner. “Whether it’s manufacturing, health care, or professional businesses, Madison companies are adopting technology to make themselves more competitive on a national and even international scale.”

The Inc. 5000 lists the nation’s most successful private companies. Companies are ranked according to the percentage growth of their annual revenue over a three-year period. Household names like Pandora, 7 Eleven, and Zappos have appeared on the Inc. 5000.

ITP is among the 49 Wisconsin companies on the 2019 list. It ranked 3,423 overall with a growth rate of 103%. The company ranked 27 out of 49 Wisconsin companies on the list and was 170 out of 276 IT management companies in the U.S.

Besides increased tech adoption by Wisconsin companies, Hager attributes ITP’s growth to the top-tier talent it retains. “We’re fortunate to employ some of the best IT engineers in the region. Madison’s affordable cost of living, natural beauty, and exciting culture help us attract great people to join our team.”

According to the Cyberstates report by CompTIA, the nation’s leading technology association:1

  • Wisconsin has 7,592 tech business establishments, ranging from one-person startups to major firms.
  • Wisconsin ranked among the top 5 states in adding tech businesses.
  • In 2018, the estimated contribution of the tech sector to the Wisconsin economy was $21.5 billion, or 7.2 percent of the gross state product.
  • Net tech employment represents 7.1 percent of Wisconsin’s total workforce, which exceeds 3 million people.
  • Wisconsin ranked 7th in the percent of tech-sector jobs held by women.
Madison and Milwaukee in particular also performed well in the 2019 CBRE Group’s Scoring Tech Talent report:2

  • Madison ranked 25th and Milwaukee ranked 44th among the 50 largest U.S. and Canadian markets for their ability to attract and grow tech talent.
  • Madison had 23,470 employed in tech occupations in 2018. As of 2018, Milwaukee had 31,620 employed in tech occupations.
“The Inc. 5000 is just one of many reports highlighting Wisconsin as a leading state in tech development and employment,” Hager says. “We’re definitely living up to the Midwest’s nickname of Silicon Prairie.”

Original source can be found here.

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