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Follow on Google News | "Fast 50 Asian American Businesses" Continue to Buck Trend and Register Enormous GrowthUSPAACC's "Fast 50 Asian American Businesses" registered almost $4 billion revenue with up to 205% growth rate in 2012.
By: JP Torres c/o USPAACC Founders, CEOs, COOs and Presidents of the Fast 50 flew in from all over the country to receive their plaque of recognition at the black-tie event. Almost $4 billion in revenue were generated by USPAACC's "Fast 50 Asian American Businesses" in the last fiscal year, with up to 205% growth rate from the previous year. They represent a wide range of industries nationwide, including: supply chain management; healthcare; professional staffing; food wholesale; IT; environmental; The businesses are owned and managed by Asian Americans of Chinese, Filipino, Indian, Japanese, Korean, Laotian, Malaysian, Taiwanese and Vietnamese descent. The revenues and growth rates were verified, ranked and officially revealed at the Excellence Awards Gala by Ernst and Young. "USPAACC is proud to recognize and showcase the continued robust and steady growth in Asian American-owned businesses across industries, especially amid tepid economic times," said Susan Au Allen, USPAACC National President & CEO. "Our Fast 50 Asian American Businesses continue to buck the trend and are shining testaments to the added value which innovation, hard work, and perseverance bring to the market. Our eyes are on them as they help to lead the way in revitalizing our national economy." To qualify, companies must be at least 51 percent owned, controlled and managed by one or more Asian Americans (U.S. citizens or permanent residents), and with at least $1 million in annual revenue in the immediate past three fiscal years of operation. Each applicant or nominee company is ranked based on the percentage revenue growth over the three years and the Finalists are independently verified by the accounting firm of Ernst and Young. USPAACC's CelebrAsian is the largest annual business conference in the United States, designed for Asian American and other minority suppliers to connect with procurement officers and buyers from Fortune 1000 corporations, government agencies and major non-profit organizations. This year's theme is "We are the Future: Immigrants - Citizens - Innovators." More than 689 Conference participants – representing more than 150 Asian American businesses, 70 Fortune corporations, 20 government agencies and 8 media partners – came in full force from all over the country. Alorica, AT&T, Hyatt Hotels & Resorts, I.L. Creations, Maxx Shop, PepsiCo, SevenTablets and Wells Fargo were the Conference Co-Chairs. Now in its 28th year, USPAACC provides minority-owned businesses wide access to contracting opportunities, growth industries, result-proven solutions and best practices to thrive in the global marketplace. Through informative summits, workshops, networking events, and the signature pre-scheduled one-on-one procurement matchmaking meetings, Asian American suppliers showed their products and services to prospective buyers. Over 50 categories of commodities with contracting opportunities were open for suppliers across industries. The specially-designed business-to- For more information, visit: http://www.uspaacc.com ABOUT USPAACC: Founded in 1984 as a non-profit and non-partisan organization, USPAACC is headquartered in Washington, DC with Regional Chapters in CA, TX, NY, GA, IL, CT, DC-MD-VA National Capital Area. USPAACC is the single unified voice for equal opportunity for Asian American businesses. We promote and propel economic growth by opening doors to business, educational and professional opportunities for Asian Americans and their business partners in corporate America, government at the federal, state and local levels, and the small and minority business community. For 28 years, USPAACC has served and will continue to serve as the gateway to large corporate and government contracts, top-caliber Asian American and small and minority suppliers, key information about Asian Americans and business opportunities in the dynamic Asia-Pacific market. Media Inquiries: JP Torres jptorres@uspaacc.com Tel (617) 933-9629 End
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