The Kauffman and Edward Lowe foundations have
conducted important research in this arena to help build
support for tools that track outsized contributors. We
need the continued involvement and thought leadership
of these organizations together with state-based labor departments
to identify the most promising companies.
Pennsylvania is one state examining the potential
of targeting high growth companies. A recent study by
Dr. Gary Kunkle for the Team Pennsylvania Foundation
shows that less than one percent of a state’s companies
have the potential to generate more than 70 percent of
new jobs annually. Through this research, Dr. Kunkle
identified the state’s fastest growing companies from
2004 to 2009. The Pittsburgh Impact Initiative has
implemented an economic development strategy using
this data which identified 150 high growth companies
in a 10-county region. The Pittsburgh Initiative will help
those companies with market research, permitting assistance,
and other services.