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Boston, MA, April 21, 2005 - The 2005 Initiative for a Competitive Inner City (ICIC) in conjunction with Inc Magazine ranked Benjamin Enterprises, Inc., 53 on the list of the fastest growing inner-city companies in America. Ms. Dorothy Terrell, President and CEO of ICIC, and Mr. John Koten, Editor of Inc. Magazine, presented the ICIC Inner City 100 award to Mrs. Michelle Benjamin, President of Benjamin Enterprises at the awards ceremony held in Boston on Thursday, April 21, 2005. The list, a ranking of 100 of the fastest-growing businesses in inner city areas around the country, reveals that virtually all of these companies are profitable and planning to expand their workforces. The 2005 Inner City 100 showed an astounding compound annual growth rate (CAGR) of 63 percent and an average annual growth of 827 percent between 1999 and 2003, compared with an average of 716 percent for all companies appearing on the Inner City 100 since its inception in 1999. This year’s list was culled from more than 4,500 nominations in 150 cities. These companies have created almost 9,600 new jobs in the past five years. Merrill Lynch, the international financial management and business advisory services company, returned for the 3rd year as national sponsor of the program. "Our partnership with ICIC and sponsorship of this year's Inner City 100 event gives Merrill Lynch a unique opportunity to recognize and support the vitality, creativity and leadership of these fast growing inner city companies," says John C. Minter, Jr., First Vice President and National Sales Director, Merrill Lynch Business Financial Services. "These companies embody the very best of American business." Benjamin Enterprises, whose corporate office resides in Middletown, New York, was cited largely in part for the growth effectiveness of their Yonkers office. The company employs personnel for their Security, Data Center cleaning, janitorial, HVAC and mailroom distribution services. ICIC has been studying the economic condition of the largest 100 American cities and is working to revitalize inner cities across the country. “Despite perceptions to the contrary, our research and work has continually shown that locating all or part of one’s business in an inner city gives you inherent advantages – from workforce diversity and availability to proximity to transportation nodes and downtown,” said Michael E. Porter, a Harvard Business School professor who founded ICIC in 1994. “By choosing to grow businesses in America’s inner cities, the owners of these businesses are transforming urban landscapes across the nation.” The record number of nominations received this year was largely due to the Inner City 100 National Program Sponsor Merrill Lynch and nominating partners such as U.S. Conference of Mayors, New America Alliance, National Women’s Business Council, and National Association of Manufacturers. “We have learned from the Inner City 100 CEOs and employees that success is more certain when you reverse thinking from addressing deficits in the community to building upon its assets,” said Dorothy A. Terrell, president and CEO of ICIC. “Our partnership with Merrill Lynch will significantly enhance ICIC's capacity to find and celebrate the impact of the company’s success on the neighborhoods where it does business.”
For more information about Benjamin Enterprises, Inc. visit their website at www.benjaminenterprises.com or call (845) 692-6243.
Ernst & Young Salutes the Region's Best Entrepreneurs
The Entrepreneur Of The Year® program, now celebrating its 16th year as a national awards program, was founded in Southwest Connecticut/New York Hudson Valley in 1987. The program was established to recognize and celebrate the accomplishments of the outstanding entrepreneurs in the area who keep our economy moving forward. The Awards identify, salute, support and reward these great individuals - many of whom began with little more than a good idea and the unwavering faith that it would succeed. The Entrepreneur Of The Year® program not only honors and recognizes the achievements of outstanding entrepreneurs, but also provides a forum for them to share and learn about successful strategies, processes and innovations. With this premier award comes recognition as an industry leader. What frequently follows is improved banking relationships, access to venture capital, stock visibility, and enhanced employee morale. Winners of this award spur innovation, job creation, and economic growth. Michelle Benjamin was named The Entrepreneur of the Year® in the Services category. In 1985, a back injury ended Michelle Benjamin's nursing career. With her future unclear, Michelle attended a local new business development seminar. After learning some basic business principles, she became excited by the possibilities of having her own business. In polling her friends and family on the business potential in her community of Orange County, NY she decided to launch a residential cleaning service. Working from her home, she hired, trained and dispatched two cleaners to several local homes. Within six months, one of her clients, a local business owner, was so pleased with the level of service that she contracted Michelle's company to provide janitorial services for her business. At this point, Benjamin Enterprises was born. In taking on this new challenge and venturing into the world of commercial contracts, Michelle realized that in order to be successful, she must carve a niche market for Benjamin Enterprises. Her research led to the development of a system designed for customers who were "relentlessly particular about the details." Benjamin soon became known for their proactive response to customer needs and flexibility to create new lines of service to meet changing demands. As her account base grew, Michelle also realized that a skilled, committed work force was crucial for Benjamin Enterprises to maintain it's white glove reputation and thrive in the marketplace. So she knew she had to raise the self-image of her team members. Her plan was the establishment of a variety of incentive programs. These included a scholarship program called "Catch a Rising Star," a worker training program titled "TrainEase International, Inc." many management and leadership incentive programs within Benjamin Enterprises and finally, a mentoring program, CEO, Cultivating Effective Owners, for emerging businesses within the community. Today, Benjamin Enterprises is housed in its own corporate office building, built in 2000. A newly developed corporate management team, led my Michelle and her husband Hugh, a former IBM engineer, will lead the company into it's next phase of expansion. For Michelle, her optimism, entrepreneurial spirit and a Core Values statement, which hangs prominently in the lobby of Benjamin Enterprises are their keys to her success. At Benjamin Enterprises, customers come first, employees are valued and given the opportunity to advance, profits must be strong and the company must play an active role in the ongoing improvement of the community. Source: Ernst & Young |
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