Over $4.5 billion generated by 50 Asian American businesses in FYE 2009, USPAACC reports
WASHINGTON, DC | May 27, 2010
The US Pan Asian American Chamber of Commerce Education Foundation (USPAACC) reported that over $4.5 billion in combined sales were generated by 50 Asian American Businesses in FYE 2009, with individual companies generating as much as 500% growth rate within the previous three-year period.
The revenues and growth rates were cumulated at the final ranking of USPAACC’s “Fast 50 Asian American Businesses,” which was officially revealed during the 25th Anniversary CelebrAsian Business Opportunity Conference held on May 26 at the black-tie Gala Reception and Dinner at The Ritz-Carlton, Washington DC.
“We take great pride in recognizing the continued robust growth shown by Asian American-owned businesses across industries—even during these challenging economic times,” said Susan Au Allen, USPAACC National President & CEO. “The significant revenue figures are true testaments to the enduring quality of Asian Americans who, through innovation, hard work and ingenuity, remain at the forefront as catalysts to the revitalization of our national economy.”
To qualify for the ranking, companies must be owned by one or more Asian Americans (at least 51% ownership), among other eligibility criteria. Based on percentage revenue growth over three years, selection was determined through direct applications and nominations. Finalists were independently verified by a representative from the global professional services firm of KPMG.
This year’s “Fast 50 Asian American Businesses” represent a wide range of industries—supply chain management, food wholesale, information technology, environmental and green companies, etc.
CelebrAsian—the largest of its kind in the United States—annually connects hundreds of top-caliber Asian American suppliers and small business owners with buyers from Fortune 500 corporations, the Federal government, and the small/minority business community, through pre-scheduled one-on-one business matchmaking meetings, informative summits, workshops, and networking sessions.
The “Fast 50 Asian American Businesses” program is part of USPAACC’s 25th Anniversary CelebrAsian Business Opportunity Conference, held on May 25-27, at the The United States Capitol, Omni Shoreham hotel, and The Ritz-Carlton, Washington DC.
PepsiCo Chairman and CEO Indra Nooyi was the Conference Chair and delivered the keynote speech at the Gala Dinner. PepsiCo and Wells Fargo were the Corporate Co-Chairs; Alorica, Inc. was the Asian American Business Co-Chair.
