Inc. magazine lauds medical device maker PainTEQ, financial services firm Byte Federal and others.
TAMPA — PainTEQ, a Tampa company that specializes in innovative medical devices that treat sacroiliac joint dysfunction, and Byte Federal, a Venice-based financial services firm, have been named to Inc. magazine’s rankings of the 173 fastest-growing businesses in the Southeast.
With 1,590% growth between 2018 and 2020, Byte Federal lands at No. 7 on the list. Right behind it, at No. 8, is PainTEQ, which posted 1,538% growth from 2018 to 2020. Clearwater-based retailer Bearbottom Clothing occupies the No. 11 spot on the list.
The No. 1 ranking went to Touchland, a Miami-based beauty products wholesaler that grew at a 4,639% clip.
“When you look at the whole of the Southeast region, Florida clearly comes out on top,” Inc. Executive Editor Diana Ransom says. “While the unemployment rate (approximately 4.6%) is a tick higher than other regions, the net business creation far and away outpaces the rest of the region.”
From 2018 to 2020, Ransom adds, “net business creation in the state was nearly 1.3 million. The closest competitor was Georgia with 602,770 business created over the period. Population growth held relatively steady over the time period, too. Florida gained nearly 500,000 new residents from 2018 to 2020, again, while Georgia — its closest regional competitor — attracted only about 130 million new residents over the same period.”
Southwest Florida was also represented high on the Inc. list, with Naples construction company Earth View landing at No. 38 thanks to 351% growth.
“This year’s Inc. 5000 Regional winners represent one of the most exceptional and exciting lists of America’s off-the-charts growth companies,” Inc. Editor in Chief Scott Omelianuk says. “They’re disruptors and job creators, and all delivered an outsized impact on the economy. Remember their names and follow their lead. These are the companies you’ll be hearing about for years to come.”
(This article has been updated to correct an error regarding Florida's population growth from 2018 to 2020.)