The president of The Garrett Companies says he experienced one overriding emotion when he heard his Greenwood-based development business was named the fastest-growing in Indiana on the 2017 Inc. 5000 list. "We’re a little bit surprised," Eric Garrett told Inside INdiana Business. "We’ve been trying to limit or even slow this growth a bit." The company experienced more than 2,000 percent growth year-over-year, according to the publication, and Garrett says the numbers are "absolutely" sustainable to the extent they can continue to hire the right employees.
He believes the recognition could help attract top talent. "We’re going to continue down our business model and continue our controlled growth strategy and if this list adds good quality candidates to our team, that’d be fantastic," Garrett says. "We’re just not trying to add staff where there’s a void. We’re trying to add staff where there’s a long-term vision for each person. We’re looking to hire people for careers and not really just to fill a temporary spot. We’re not interested in growth for growth’s sake."
The Garrett Companies, Garrett adds, has turned down some work as part of a deliberate effort to limit and control growth. The mulitfamily residential development company is planning to open an office soon in Denver, a market where it has a considerable presence, and over the next two-to-three years, could also launch a Texas office. There are currently 50 employees at The Garrett Companies and up to 25 could be added within a year, said Garrett. In addition to Indiana, Colorado and Texas, The Garrett Companies’ footprint stretches through states including Kentucky and Florida.
The top 10 in Indiana are:
- 210. The Garrett Companies – 2,068.70 percent growth – $43.0m revenue – based in Greenwood
- 302. Her Hair Company – 1,439.94 percent growth – $5.6m revenue – based in Indianapolis
- 399. SupplyKick – 1,098.15 percent growth – $6.8m revenue – based in Indianapolis
- 577. Fizziology – 785.31 percent growth – $4.6m revenue – based in Indianapolis
- 702. SmartBox Web Marketing – 646.40 percent growth – $6.0m revenue – based in New Albany
- 911. Ben’s Soft Pretzels – 484.33 percent growth – $11.5m revenue – based in Goshen
- 1101. Prime Real Estate – 382.32 percent growth – $6.7m revenue – based in Crown Point
- 1141. SmarterHQ – 366.66 percent growth – $5.7m revenue – based in Indianapolis
- 1170. Hoosier Hill Farm – 356.96 percent growth – $3.5m revenue – based in Fort Wayne
- 1210. Ruoff Home Mortgage (5th appearance) – 339.74 percent growth – $74.2m revenue – based in Fort Wayne
The full list of companies on the list (sortable by state) is available by clicking here.
The Garrett Companies President Eric Garrett told Inside INdiana Business he believes the recognition could help attract top talent.