GE Capital And Slate's Roadshow For Growth Comes To Los Angeles

GE Capital (NYSE:GE) and Slate’s Roadshow for Growth rolls into LA 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 LA area comprise only 1% of total businesses, yet generate 45% of total revenue and account for 46% of LA’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 LA, the NCMM will release new data that shows the importance of the middle market to LA including:
  • The middle market in LA consists of approximately 8,800 companies and employs roughly 2.9 million employees
  • The middle market in LA grew revenue by 5.6% in 2012 and is projected to continue to grow at a rate of 4.2%
  • The middle market in LA’s employment grew by 1.0% in 2012 and is projected to continue to grow at a rate of 1.7%
  • The middle market in LA generated approximately $380 billion in revenue in 2012
  • Services segment of the middle market in LA is the largest source of revenue and jobs, at approximately $165 billion and roughly 1.5 million, 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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