GE Capital and Slate’s Roadshow for Growth rolls into Atlanta 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 Atlanta area comprise only 1% of total number of businesses, yet generate 23% of total revenue and account for 28% of Atlanta’s employment.*
- Consists of approximately 2,800 companies and employs roughly 1.2MM employees
- Grew revenue by 6.2% in 2012 and is projected to continue to grow at a rate of 5.2%
- Employment grew by 1.5% in 2012 and is projected to continue to grow at a rate of 0.7%
- Generated approximately $142.6B in revenue in 2012
- Services segment is the largest source of revenue and jobs, at approximately $63.3B and roughly 646,000, respectively
In Atlanta, the Roadshow for Growth will make several stops at middle market companies, convening a local dialogue on middle market issues.After the Atlanta stop, the Roadshow for Growth will visit middle market businesses in Dallas, New Orleans and Los Angeles, among other cities. The tour will culminate in Columbus, Ohio at the third annual National Middle Market Summit in late October. At each stop, the Roadshow for Growth will host a variety of events, ranging from town hall discussions and conversations with city mayors to visits with select middle market businesses. Middle Market Companies Drive Growth across the Nation According to the NCMM’s soon-to-be-released Middle Market Indicator, their quarterly survey of 1.000 middle market executives:
- Nearly 200,000 companies that make up the U.S. middle market will generate approximately 70% of all projected national job growth this year.
- Middle market companies will project 2.5% employment growth in the year ahead, compared with the nation’s average projected employment growth rate of 1.11%, based on jobs data from the first half of this year.
- Middle market companies also project 5.8% revenue growth, which far exceeds the S&P 500’s estimated revenue growth of 1.2% and the Federal Reserve's estimated GDP growth for 2013 of 2.45%.
- Revenue growth is stabilizing above 5% and employment growth projections have increased 20% over last quarter.
- A record 48% of middle market executives reported confidence in the global economy, compared to 22% last year.
About Slate ( www.slate.com):Slate is a daily magazine on the Web that offers analysis and commentary about news, politics, culture, business, law, and technology. Slate's strong editorial voice and witty take on current events have been recognized with numerous awards, including the National Magazine Award for General Excellence Online and the Missouri Honor Medal for Distinguished Service in Journalism. Reaching 17 million unique visitors per month, Slate is the centerpiece of the Slate Group, an online publishing subsidiary of the Washington Post Co. (NYSE:WPO) National Center for the Middle Market ( www.middlemarketcenter.org): The National Center for the Middle Market is the leading source of knowledge, leadership, and innovative research focused on the U.S. Middle Market economy. The Center provides critical data, analysis, insights, and perspectives to help accelerate growth, increase competitiveness, and create jobs for companies, policymakers, and other key stakeholders in this sector. Stay connected to the Center by contacting firstname.lastname@example.org. * Note: estimates based on available data from Dun and Bradstreet and research conducted by the National Center for the Middle Market.