A new study shows Connecticut is ranked 18th nationally among all states and the District of Columbia for growth in middle-market companies.
The latest Middle Market Power Index from American Express and Dun & Bradstreet said Connecticut has an estimated 2,523 middle-market companies ($10 million-$1 billion in annual revenues), which make up 0.96 percent of all firms in the state. That’s equal to national figures, which show middle-market companies make up 0.95 percent of all firms.
The growth ranking, according to a spokesperson, was found by examining Dun & Bradstreet’s data in their commercial database of over 19 million businesses between March 2011 and March 2016 and finding the growth in share for middle-market firms by state.
Among the 19 million commercially active U.S. businesses in 2016, 182,578 firms have between $10 million and $999 million in revenue and are thus defined as middle-market enterprises. Additionally, 17.9 million commercially active firms in the D&B database have less than $1 million in revenues, and in this analysis are referred to as small firms. Connecticut has 259,758 firms in this bracket, which represents 99 percent of all firms.
Nationally, just under 1 million (964,600) have between $1 million and $9.9 million in revenues, and are referred to as “nearing the middle market;” and 3,025 firms generate $1 billion or more in revenues.
