updated: 1/22/2008 2:24:29 PM

Indy Firm Named Chamber's Small Business of the Year

InsideINdianaBusiness.com Report

The Indiana Chamber of Commerce has announced Indianapolis-based POLARIS Laboratories as its Indiana 2008 Small Business of the Year. Founded in 1999, the company now has 79 employees in Indianapolis and 28 employees at laboratories in Houston and Salt Lake City. It reported revenue of $9.2 million in 2007.

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Source: Inside INdiana Business

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Five legislators also received the Indiana Chamber's 2007-2008 Small Business Champion Award. Recipients were Sen. Ryan Mishler (R-Bremen), Sen. Brent Steele (R-Bedford), Rep. Matt Bell (R-Avilla), Rep. Scott Reske (D-Pendleton) and Rep. Marlin Stutzman (R-Howe).

Press Release

Indianapolis, Ind. -- Hoosier small businesses were honored today at a luncheon held in conjunction with the Indiana Chamber of Commerce’s annual Small Business Day at the Statehouse. POLARIS Laboratories, an Indianapolis-based fluid analysis laboratory that specializes in testing of oils, fuels and coolants, was chosen from a field of more than 50 nominees as Indiana’s 2008 Small Business of the Year.

“POLARIS Laboratories was selected from our largest pool of nominees yet – a true testament of the prestige of this award,” offers Indiana Chamber President Kevin Brinegar. “A relatively new company, POLARIS has demonstrated tremendous strategic growth while providing excellent quality in its industry.”

Founded in 1999, four former co-workers started POLARIS after the small oil analysis laboratory they worked for closed. POLARIS now has 79 employees in Indianapolis and 28 employees at laboratories in Houston and Salt Lake City. Revenue in 2007 reached $9.2 million, an increase from $7.2 million in 2006.

POLARIS has achieved consistent double-digit growth with customers in all 50 states and 15 countries. With its three laboratories, POLARIS placed itself within 48 hours ground transit to almost anywhere in the continental United States – a move that allows for quick turnaround on customers’ test results. POLARIS has been named one of Indianapolis’ 25 fastest growing privately-held companies four times.

Companies recognized as finalists for Small Business of the Year were: Elwood Staffing Services, headquartered in Columbus; Heraeus Electro-Nite Company of Peru; McCormick Motors of Nappanee; Midwest Tube Mills of Madison; and Option Six of Bloomington.

Semi-finalists for the award were: Alcoa Auto and Truck Structures in Auburn; Citizens Bank in Mooresville; Cripe Architects + Engineering in Indianapolis; Dekker Vacuum Technologies in Michigan City; ESW Incorporated in Greensburg; Industrial Resource Group, LLC in Schererville; IWM Consulting Group in Indianapolis; M&S Precision Machining in Greensburg; M&R Constructors in Indianapolis; Oak Street Funding in Carmel; Pools of Fun in Plainfield; and TRIPLEPOINT in Crown Point.

In addition, five state legislators were given the Indiana Chamber’s 2007-2008 Small Business Champion Award for their dedication to bettering Indiana’s business climate for small employers. The Small Business Champions are:

- Sen. Ryan Mishler (R-Bremen), District #9;
- Sen. Brent Steele (R-Bedford), District #44;
- Rep. Matt Bell (R-Avilla), District #83;
- Rep. Scott Reske (D-Pendleton), District #37 and
- Rep. Marlin Stutzman (R-Howe), District #52.

“Protecting Indiana’s small businesses is vital to the state’s economy – considering more than half of all Hoosiers work at these small companies. These legislators recognize the importance of small businesses and consistently support their interests in the Statehouse,” Brinegar says.

Other highlights of Small Business Day included the lunch keynote by Lt. Gov. Becky Skillman and informative session on resources from state programs – including Buy Indiana, Women and Minority Business Enterprise, Indiana Small Business Development Center and the Indiana Department of Workforce Development. A legislative briefing and session on communicating with lawmakers prepared attendees to meet with legislators at the Statehouse.

Sponsors for Small Business Day at the Statehouse were Indiana State University, Anthem Blue Cross and Blue Shield, Barnes & Thornburg LLP, Forum Credit Union and Time Services Inc.

The Indiana Chamber of Commerce has been the state’s largest broad-based business advocacy organization for over 85 years. Today, it serves more than 26,000 members and customers.

Source: Indiana Chamber of Commerce

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