Indiana's Growth 100.

• Author: HROMADKA, ERIK

Picking the state's high-growth, high-potential companies

What does it take to be a high-growth company? At the Johnson Center for Entrepreneur-ship and Innovation in Bloomington, that question underlies the selection of the annual Indiana Growth 100 companies. The program, which began in 1994, recognizes high-growth companies that have at least $1 million in annual sales.

Dick Johnson--who is CEO of Columbus-based Johnson Oil (best known for its Bigfoot quick marts) and whose family name graces the center, says understanding what makes the Growth 100 companies succeed is important to Indiana's business community. "These companies set the example for all of us," he says.

The individuals who build the state's fast-growing companies are those who can take an idea and run with it, applying new technology, attracting skilled employees and improving the business climate of their local communities, he observes. "It's very important for that kind of activity to happen in Indiana from an economic-development standpoint," Johnson says, noting that these companies support many other local businesses. And, he adds, it is exciting to watch the Growth 100 list develop as younger companies join the ranks.

The Growth 100 program got its start when Indiana University professors Daniel W. DeHayes and Bill Haeberle identified a series of characteristics that high-growth companies share and began to look for Indiana businesses that fit their profile.

"At that time the companies that were growing quickly did not get much recognition," DeHayes recalls. He decided to explore ways to recognize and help high-growth companies in Indiana. DeHayes found an early sponsor for his idea with Key Bank, which had been involved in a similar program with Case Western Reserve University in Cleveland.

Indiana's Growth 100 program was modeled after the Ohio program and similar recognition programs in Georgia and Texas. However, DeHayes wanted to do more than just provide recognition for the companies. Therefore, Indiana's version of the awards program includes an organization known as the Growth 100 Network. "What makes Indiana's Growth 100 different are the ongoing activities that continue past the awards," says DeHayes, citing training seminars, newsletters and interaction with sponsors as ways that member companies can continue their growth.

The potential for future growth is one of the keys to selecting the Growth 100 companies, DeHayes explains. For example, he notes that...