News. Events. Ideas. People.
Work Hard, Play Hard, Study Hard: Fastest-Growing Urban Firm Invests In Its Workforce
Dr. Jill Biden visits Coyote Logistics for a roundtable discussion exploring student, college and partner experiences in developing a skilled Chicago workforce.
Ever wonder what a fast-growing firm actually looks and feels like? Most would think of it as a tech company started in someone’s garage in Silicon Valley by a person using terms like “first-mover’s advantage” or “disruptive innovation;” however, by looking at the Inner City 100, fast-growing inner city firms are in all types of industries in every corner of the country. Inner City 100 companies leverage their location to create value and jobs that will lead to further growth and scaling.
Our #1 company, for example, on the 2012 Inner City 100 is not just an example of fast-growing inner city commerce; they are the pure embodiment of it. Coyote Logistics of Chicago is not only the fastest-growing company on the 2012 Inner City 100, but also the fastest-growing firm in the history of the Inner City 100 with a whopping five-year average year-over-year growth rate of 295%. You read that right. This incredible firm basically quadrupled its revenues every year from 2006 to 2010. In the backdrop of the current economic climate, this is absolutely amazing. The company is a transportation and logistics provider that was founded by CEO Jeff Silver in 2006 and took advantage of the gloomy economy by making the operations of transportation and logistics much more efficient.
Such growth prompted a feature in Inc. magazine last week profiling the firm’s success. Here are some interesting points from the article.
- The company did $560 million in revenue in 2011 and is projected to do $800 million in 2012
- Coyote Logistics separates its functions of securing shipments and arranging carriers
- The company has continuing education programs with DePaul University and Michigan State
- Coyote Logistics guarantees delivery of anything it ships
- CEO Jeff Silver is looking to take the company public in a few years
The company was also recently paid a visit by former community college teacher, the Second Lady of the United States Dr. Jill Biden. Dr. Biden visited Coyote as part of the national “Community College to Career” bus tour, which highlights innovative industry partnerships that are helping train students with the skills they need to meet area workforce needs. Mayor Rham Emanuel launched a mirrored initiative in Chicago, run through the City Colleges of Chicago, at the end of 2011. As part of program, Coyote and other partner businesses are working directly with City Colleges faculty and staff to revamp the Olive-Harvey curriculum, design new facilities, provide internships and give students the opportunity to interview for jobs in high-demand fields. Recent City Colleges of Chicago research found that 80% of the new jobs in the region would be in one of six industries, of which logistics ranks in the top.
Coyote Logistics’ CEO Jeff Silver commented, “we are committed to working with the City to create a strong, rigorous, training and education platform that will provide City Colleges graduates with a competitive edge as they enter the workforce across the entire industry.”
To hear more from Coyote CEO, Jeff Silver, watch the video below detailing how the high-growth firm has been successful in an urban community.
check this out….. they have been all over the chicago tribune with awsome reviews.
By Sheila Caswell on 07/30/2012
BY Alex Rodriguez on June 20th, 2012
Trending Topicsworkforce development workforce what works urban revitalization small business shared value nyc manufacturing jobs inner city economic summit industrial ic100 housing food entrepreneur economic development detroit community development clusters cities capital business boston ask the expert anchors
FOR OUR MONTHLY INNER CITY INSIGHTS.
- CEOs for Cities
- SBA's Open for Business
- Opportunity Nation
- Living Cities
- Urban Institute's MetroTrends
- Atlantic Cities
- The Knight Foundation
- The Kresge Foundation
- Core Change Cincy
- Business Civic Leadership Center
- The Urbanophile
- Next City
- City Journal
- Rust Wire