Business First Fast 50 for 2008 – OHIO POWER TOOL

Ohio Power Tool was honored in October as one of the fastest growing companies in the central Ohio area. The Fast 50 Awards program highlights the 50 fastest growing emerging companies in the Central Ohio area. The 2008 program was the 13^h Annual Fast 50 with an “In Motion” theme.

Nominees must be headquartered in the Central Ohio area, be privately held and have at least one million dollars in revenue per year with a three year operating history. After an initial nomination has been turned in, a more detailed qualification form is sent to the nominee requesting financials for three previous operating years.  This financial information is sent directly to the accounting firm retained by Business First.

RSM McGladrey has taken on the responsibility of tracking and evaluating the qualification forms and materials as they are returned. They present the fifty winners after all qualification forms have been returned and tabulated. Actual financial information is not disclosed. The information shared with Business First and program sponsors includes only company name, contact information and an average rate of growth.

 “The Columbus Business First Fast 50 represents some of the fastest-growing privately held companies across Central Ohio. These companies are creating eight out of 10 new jobs across our region today and thus are extremely important to our region’s economy,” says Don DePerro, president and publisher of Columbus Business First.  “Especially now, in times of an economic downturn, the strength and growth of these companies helps to keep our economy from an even faster downward spiral. There’s no bad news here – these companies are agile and moving forward every day.”