GE Capital (NYSE:GE) and Slate’s Roadshow for Growth rolls into Houston today as part of a six-month, 20-city tour that will address the issues of middle market businesses, a sector that generates $9 trillion in annual revenue and accounts for nearly 34% of total U.S. employment. According to new research released today by the National Center for the Middle Market (NCMM), mid-sized companies in the Houston area comprise only 1% of total businesses, yet generate 17% of total revenue and account for 34% of Houston’s employment.*
Traveling in a branded bus, GE Capital and Slate’s Roadshow for Growth started in Kansas City in May and has traveled to cities like St. Louis, Chicago, Detroit, Charlotte and Atlanta. While in Houston, the NCMM will release new data that shows the importance of the middle market to Houston including:
- The middle market in Houston consists of approximately 3,300 companies and employs roughly 1.3 million employees
- The middle market in Houston grew revenue by 10.2% in 2012 and is projected to continue to grow at a rate of 7.2%
- The middle market in Houston’s employment grew by 5.9% in 2012 and is projected to continue to grow at a rate of 4.7%
- The middle market in Houston generated approximately $187 billion in revenue in 2012
- Services segment of the middle market in Houston is the largest source of revenue and jobs, at approximately $59 billion and roughly 620,000, respectively
“When middle market companies do well, the economy does well,” said Mike Pilot, chief commercial officer of GE Capital. “As the leading lender to the middle market and sponsor to a number of programs to help this critical segment of the U.S. economy grow, we think helping convene a dialogue around the needs of our customers is critical to driving economic growth and creating jobs. From the National Center for the Middle Market to the Roadshow for Growth, our goal is to help policymakers and job creators alike understand that the middle market is the market that drives America.”
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