KANSAS CITY, MO--(Marketwire - Nov 20, 2012) - Discount Filters, a leading online retailer of air and water filters, is among 66 fast-growing companies contributing to Indianapolis' status as one of the nation's Top 10 cities for significant business growth. Every one of those companies was able to reach Inc. 500 status within the last decade.
According to a recent study by the Kansas City-based Kauffman Foundation, Indianapolis has seen a rate of business growth that tops all but five other major cities. Not only did Indianapolis outrank all other Midwestern cities, it came in higher than major metropolitan areas like Denver, Los Angeles, Portland, San Diego, Seattle and New York. The study included U.S. metropolitan areas with populations of at least 1 million, and measured success based on the city's size.
That upward trend in growth for cities in the Midwest and Rust Belt, including Baltimore, Louisville and Buffalo, N.Y., which also ranked in the study's Top 20, has a lot to do with people's ability to network and connect with others in business, according to Yas Motoyama, lead author of the Kauffman study.
More than availability of venture capital, university R&D, patent activity, high-tech company density or a low tax environment, these fast-growing cities require environments that foster connectivity and communication, Motoyama added.
Indianapolis proved to be just that kind of city for the owner of Discount Filters, Todd Anthony, who started his business nearly a decade ago.
"If you talk to most business owners in Indiana, you'll find that most of us found success by working together," Anthony said. "Folks here are happy to help each other out and share what we've learned along the way. And from my experience, that means better business for everyone."
In 2007, then four year-old National Trade Supply, which is located in the Indianapolis suburb of Greenwood and owns Discount Filters, ranked No. 30 on the Inc. 500 list. Discount Filters sells air filters and water filters to homeowners and HVAC contractors and now has $32 million in revenue.
"As far as I'm concerned, Indianapolis is the best city in the country to do business," said Anthony. "We've blended friendly Midwestern culture and successful business practices to perfection, and it looks like that's working well for everyone."