Long Beach, January 27th, 2020 - The Initiative for a Competitive Inner City (ICIC) announced that Long Beach’s Dunfee Real Estate Services, INC., dba Mike Dunfee Group is a winner of the 2020 Inner City 100 (IC100) award which recognizes the 100 fastest-growing firms in under-resourced communities across America. The winners were picked based on revenue growth and job creation during the four-year period from 2015 to 2019.
Winners were revealed at the 2020 ICIC National Conference held virtually on December 8th. The full list is available here. Mike Dunfee Group, led by CEO Mike Dunfee, was ranked #61 based on its four-year revenue growth rate and job creation rate.
“This is a proud moment for us to be included on the IC100 list,” said Mike Dunfee. “This is more proof that what we are doing is working. It is incredibly rewarding to be recognized at a national level alongside leaders from so many industries across the county. It is a testament to the quality of our team members, their commitment to our clients, and the greater community.”
This year’s IC100 list had 42 women-owned/led companies, an increase of eight companies from 2019 and 17 since 2015. The 2020 list also contains 51 BIPOC-owned/led companies, marking an increase of seven since 2019 and 11 since 2015. These are the highest numbers to date and show an encouraging trend.
“IC100 companies are forces of economic opportunity, optimism, and transformation in their communities. It’s an honor to recognize Mike Dunfee Group’s leadership,” said ICIC CEO Steve Grossman. “Especially during this incredibly challenging time, as small business owners reckon with the economic fallout of the COVID-19 pandemic, these pioneering entrepreneurs have demonstrated a deep commitment to and passion for their local communities.”
IC100 Methodology: Recognizing that concentrated poverty exists within metropolitan areas outside of big cities (and that poverty overall is suburbanizing), ICIC has revised its definition of an inner city (or under-resourced area) to encompass large areas of concentrated poverty in suburbs and smaller central cities as well as the large cities on which it has historically focused. The new inner-city definition that it has developed includes large low-income, high-poverty areas located in the urban and suburban parts of all but the smallest metropolitan areas. Every year, ICIC identifies, ranks, and awards the 100 fastest growing businesses located in America’s under-resourced communities. In 2020, companies were selected and ranked by revenue growth and job creation over the four-year period between 2015 and 2019.
ICIC is a national nonprofit founded in 1994 by Harvard Business School professor Michael E. Porter. ICIC drives inclusive economic prosperity in under-resourced communities through innovative research and programs to create jobs, income and wealth for local residents.
Through its research on inner city economies, ICIC provides businesses, governments, and investors with the most comprehensive and actionable information in the field about urban market opportunities. Now in its 26th year, the organization supports urban businesses through the Inner City 100, Inner City Capital Connections, Goldman Sachs 10,000 Small Businesses Program, and Santander Bank’s Cultivate Small Business Program.
Dunfee Real Estate Services, Inc.