OAKLEAF Waste Management Ranks Number 10 On The National ICIC-Inc Magazine Inner City 100 List

East Hartford, CT (April 14, 2004)

 

OAKLEAF Waste Management, the nation's fastest growing waste management services company ranked number 10 on the 2004 ICIC-Inc. Magazine Inner City 100. OAKLEAF is one of the highest rising inner-city companies in America with 2002 revenues of over $105 million, a standard growth rate of 1805%, and employs over 270 people. OAKLEAF's current revenues are approaching $200 million.

 

The list, a ranking of 100 of the fastest-growing businesses in inner city areas around the country, reveals that virtually all of these companies are profitable and planning to expand their workforces. The 2004 Inner City 100 showed an astounding average annual growth rate of 872 percent for the five-year period 1998-2002, up from last year's rate of 647 percent. This impressive list received over 7,000 nominations. These companies have created almost 11,600 new jobs in the past five years. The Inner City 100 winners are based in 55 cities and were selected from a pool 7,000 companies nominated from 155 cities compared to approximately 5,000 last year and fewer than 250 in 1999, the first year of the award was given. Criteria for the award include having at least 51 percent of operations located in economically distressed urban areas; having sales of at least $150,000 in 1998 and at least $1 million in 2002.

 

Merrill Lynch, the international financial management and business advisory services company, returns for the 2nd year as national sponsor of this year's program. "In our 20 years of providing lending and cash management to small and midsize businesses - many of which reside in the inner city -- Merrill Lynch has seen a shift toward entrepreneurs choosing to grow their businesses in inner city communities, ultimately shaping the fabric of these communities," said David W. Tralka, Chairman, Merrill Lynch Business Financial Services.

 

The 2004 Inner City 100 winners convened on April 12-13, 2004, at the Inner City 100 Summit in Boston. The Summit was a two-day event that this year featured seminars for Inner City 100 owners and managers at Harvard Business School, a reception at Fenway Park, and culminated in a gala awards dinner, where more than 1,000 guests attended.

For more information about the 2004 Inner City 100 list contact Deirdre Coyle at 617 292-2363 ext.242.

 

Inc is the leading magazine written for the men and women who own and manage small-to-midsized, fast-growing companies. Published 12 times a year, Inc helps its 1.5 million readers by providing expert advice and practical solutions as they face the opportunities, pitfalls, and rewards of growing a company. Inc.com (www.inc.com), the Web site for growing companies, was named Best Online Magazine by Folio and Best Overall New Publication (all media) by the Computer Press Association.

 

Merrill Lynch is one of the world's leading financial management and advisory companies, with offices in 36 countries and total client assets of approximately $1.1 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world's largest managers of financial assets. For more information on Merrill Lynch, please visit www.ml.com.

 

OAKLEAF Waste Management employs over 270 people in East Hartford, Connecticut and at branch offices in California, Colorado, District of Columbia, Florida, Georgia, Illinois, Kentucky, Maine, Massachusetts, Minnesota, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Tennessee, Texas, Wisconsin and an international office in Canada. For more information about OAKLEAF please visit www.oakleafwaste.com