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Midsize Companies Are Still Going Strong

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The engine of the economy continues to move onward and upward The engine of the economy continues to move onward and upward

They’ve survived the downturn and added jobs. Some even have joined the elite class of “growth champions.”

The Midsize Enterprise Summit in New Orleans got off to a strong start Sunday evening when Doug Farren, Director of the National Center for the Middle Market at Ohio State University’s Fischer College of Business, discussed a number of positive findings from the organization’s survey of nearly 1,500 midmarket C-level executives. During the downturn, middle market companies added 2.2 million jobs even as big businesses were shedding them. IT companies accounted for the largest employee growth. The study also found that 82 percent of midmarket organizations survived the years between 2007 to 2012, compared to a little more than half of the small businesses that made it through the recession.

The research—the largest middle-market study ever conducted—concludes: “the health of the middle market is vital to overall U.S. prosperity.” To C-level IT and business leadership in midmarket companies, that’s as good as hearing the sweet sound of jazz music.

The National Center for the Middle Market, which was established last year in partnership with GE Capital, defines midmarket companies to be those with between $10 million and $1 billion annual revenue. The midmarket encompasses 195,000 businesses and contributes 34 percent of total employment in the US. “We wanted to plant the stake in the ground and truly define what midmarket characteristics are,” said Farren, whose organization’s goal is to become the leading source of knowledge, leadership and innovation research about the U.S. midmarket economy. “With the middle market being largely overlooked, we had the opportunity to break through those walls, discover and deliver this information,” he said.

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