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Fairfax County is home to state’s fastest-growing companies
Fairfax County is home to state’s fastest-growing companies
Richard Foster// April 30, 2020//
As the Virginia Chamber of Commerce marks its 25th year of celebrating the commonwealth’s 50 fastest-growing companies, this unfortunately will be the first year that Virginia’s Fantastic 50 award winners haven’t been recognized with an in-person event.
Due to the coronavirus pandemic, this year’s Fantastic 50 awards banquet, which had been scheduled for April 30, was canceled.
However, in cooperation with the chamber, Virginia Business is continuing to publish the annual list of the award-winning Fantastic 50 companies.
Seven of the top 10 companies in this year’s list, including the top four, are based in Fairfax County.
The 2020 list is topped by Herndon-based B3 Group Inc. A federal contractor specializing in information technology services, B3 Group saw revenue growth of 3,231% from 2015 through 2018.
While its growth rate was not as high as last year’s Fantastic 50 list leader, Leesburg-based FedBiz IT Solutions, which posted a growth rate of 4,375%, B3 Group’s revenue growth was well ahead of every other company on the 2020 Fantastic 50 list.
The median revenue growth rate of all 50 companies on the 2020 list was 311.67%, significantly less than the 2019 rate of 404.62%.
In addition to B3 Group, two other companies were recognized as Vanguard winners in this year’s list, posting the highest revenue rates for their respective industries:
Service: Vienna-based information technology solutions firm Alpha Omega Integration LLC, with a growth rate of 2,687%.
Technology: Stafford County-based federal contractor GCubed Inc., with a growth rate of 1,440%.
No companies qualified for the list under the manufacturing or retail/wholesale categories this year.
To be eligible for the list, a company must have recorded revenue of at least $200,000 in 2015. It also must have posted a profit in 2018 and brought in less than $200 million in revenue in its most recent fiscal year.
Read more about this year’s Fantastic 50 winners:
