Chattanooga trucking and logistics companies are among the fastest … – Chattanooga Times Free Press
Despite the slowdown in freight shipping this year, a record number of Chattanooga's trucking and logistics businesses moved into the fast lane in 2022 among America's fastest-growing businesses.
In its annual ranking of the nation's top growing companies, Inc. magazine includes 20 Chattanooga companies on its list of the 5,000 U.S. businesses with the fastest rate of revenue growth in the past three years. Among the local companies on the new Inc. 5000 list, 70% are either logistics companies or businesses servicing the trucking industry.
"I think logistics are driving our entrepreneurial and startup economy here in Chattanooga, which is why we have called this 'Freight Alley,'" Freightwaves CEO Craig Fuller said in a telephone interview Wednesday. "We have a high concentration of talent here in a business that encourages growth and innovation, so I think we'll continue to see a lot of growth in many of these startup businesses in logistics."
Fuller, whose family has been involved in building such trucking giants as Southwest Motor Freight, U.S. Xpress Enterprises, Covenant Logistics and Transcard in Chattanooga, monitors and reports on the logistics industry for the software and media company Freightwaves, which was among the companies included on the Inc. 5000 list again this year.
Fuller said Chattanooga now rivals Chicago as a hub for the logistics industry, which is why Fuller said Freighwaves is bringing its "F3: Future of Freight Festival" to Chattanooga in November. Similar to last fall, the three-day event is expected to draw thousands of freight industry leaders to Chattanooga.
Ted Alling, one of the founders of the freight brokerage firm Access America and an investor in a number of logistics startups in Chattanooga, said the new Inc. 5000 list underscores his belief that "Chattanooga is the best city in the US to start a logistics business.
"We have a deep talent pool locally that is attracting new investments from logistics start-ups and expansion from other prominent industry players," Alling said in an emailed statement Wednesday. "There is also an incredible amount of buy-in from the local VC and academic communicate. UTC and Chatt State have been incredibly supportive."
Making the list
The slowdown in freight shipments and mergers in the industry, such as KnightSwift buying U.S. Xpress, may lead to some employee dislocations, including the termination of nearly 30,000 employees withthe bankrupt Yellow Corp. But with Chattanooga's industry foundation and talent pool, other startup ventures in logistics are likely to be spurred by the industry shakeups Fuller said.
The 20 Chattanooga companies on the new Inc. 5000 list are 25% more than the previous record high reached last year on the 2022 Inc. 5000 list.
Collectively, the companies on the new Inc. 5000 list grew their revenues by 219% over the past three years to reach a total of $358.2 billion last year. The companies on the list also have added nearly 1.2 million jobs to the U.S. economy, according to Inc. magazine.
"Steaming" ahead
The fastest growing logistics business in Chattanooga on the Inc. 5000 list is Steam Logistics, an international freight broker that moved into the renovated John Ross building this spring with more than 500 of the company's 700 employees.
Steam Logistics, which ranked No. 260 on the Inc. 5000 list, has been on the list of the fastest growing companies for seven consecutive years after the firm was started in 2012. Jason Provonsha, the founder and chief executive of Steam Logistics, called this year's ranking "particularly special" because the growth was built on a much bigger base than previous listings.
"Going from a $33 million company in 2019 to $765 million (in revenues) last year is an experience I will never forget," Provoncha said in an emailed statement Wednesday. "We've built a unique and diverse culture at Steam, and we're fortunate to have a team who takes such good care of that culture. I think it's as big of a reason for our success as anything."
Steam Logistics is among more than a dozen local freight brokerage companies that help arrange shipments and act as brokers between companies needing goods to be shipped and the trucking or other carriers that deliver such products.
More than half of the Inc. 5000 companies in Chattanooga this year are freight brokers, but others such as Freightwaves, Workhound and Reliance Partners serve the trucking and logistics industries with tracking data, employee surveys and accounting services.
Chattanooga's fastest-growing businesses
Among the 5,000 fastest-growing businesses in America over the past three years, 20 are headquartered in Chattanooga, and 14 of those are in logistics or are logistics support companies. The top local companies on the Inc. 5000 list and their rankings for growth from 2019 to 2022 include:
Steam Logistics, a freight brokerage firm started in 2012 and headed by Jason Provonsha, is No. 260 on the list with a growth of 2,151%.
http://www.mocalogistics.com,a logistics firm started in 2018 and headed by Jorge Papatzikos, is No. 766 on the list with a growth rate of 768%.
KCH Transportation,a freight broker started in 2014 and headed by Jason Whitten, is No. 999 on the list with a growth rate of 593%.
Trident Transport, a freight broker started in 2013 and headed by Heath Haley, is No. 1,331 on the list with a growth rate of 437%.
F2F Transport,a freight broker started in 2016 and headed by Brian Starnes, is No, 1,386 on the list with a growth rate of 437%.
Text Request, a telecommunications and texting company started in 2014 by Brian Elrod, is No. 1,341 on the list with a growth rate of 434%.
WAP Sustainability, an environmental services firm started in 2009 and headed by William Paddock, is No. 1,693 on the list with a growth rate of 330%.
Syssero,a business products company started in 2016 and headed by Amber Lowry, is No 2,042 on the list with a growth rate of 275%.
Logistix,a freight broker started in 2016 and headed by Carlos Garcia, is No. 2,062 on the list with a growth rate of 273%.
Max Trans Logistics of Chattanooga, a freight broker started in 2006 and headed by Mike McCallie, is No. 2,325 on the list with a growth rate of 273%.
White Harvest Energy,an energy firm started in 2014 and headed by Ben Edgar, is 2,337 on the list with a growth rate of 236%.
Freightwaves,a software and media company covering logistics that was started in 2016 and is headed by Craig Fuller, is 2,386 on the list with a growth rate of 231%.
Reliance Partners,an insurance broker that serves the logistics industry, was founded in 2009, is headed by Andrew Ladebauche and is No. 3,294 on the list with a growth rate of 230%.
Market Street Partners,an accounting firm started in 2016 and headed by Kyle Bryant, is No. 2,559 on the list with a growth rate of 213%.
Workhound, a survey and software firm that serves the logistics industry, was started in 2015, is headed by Max Farrell and is listed No, 2,897 with a growth rate of 182%.
Taimen Trucklines,a trucking firm started in 2017 and headed by Christopher Wang, is No. 3,537 on the list with a growth rate of 140%.
Delegator,an advertising firm started in 2009 and headed by Andrew Scarbrough, is No. 4,264 on the list with a growth rate of 103%.
Ambition,a software company started in 2014 and headed by Travis Truett, is No. 4,569 with a growth rate of 90%.
Source:Inc. 5000
Contact Dave Flessner at dflessner@timesfreepress.com or 423-757-6340.
- KIA installs free anti-theft software this weekend in St. Louis area - KSDK.com - April 28th, 2024 [April 28th, 2024]
- KIA installing free anti-theft software to impacted car owners - WHAS11.com - April 28th, 2024 [April 28th, 2024]
- Free Windows Apps and Software for PC Gamers to Take Gaming to the Next Level - Gizchina.com - April 28th, 2024 [April 28th, 2024]
- Best survey tool of 2024 - TechRadar - April 28th, 2024 [April 28th, 2024]
- Grand Rapids Police and Hyundai Offer Free Anti-Theft Software Upgrades Amid Vehicle Theft Wave - Hoodline - April 26th, 2024 [April 26th, 2024]
- Blueprint Software Systems Announces Free Trial for RPA Analytics Solution - PR Web - April 26th, 2024 [April 26th, 2024]
- Houston Police, Hyundai to host free anti-theft security event for vehicle owners - Houston Public Media - April 26th, 2024 [April 26th, 2024]
- Descartes Systems buys Aerospace Software Developments Winnipeg Free Press - Winnipeg Free Press - April 26th, 2024 [April 26th, 2024]
- Kia offers free software upgrades in Cleveland this weekend - WKYC.com - April 20th, 2024 [April 20th, 2024]
- Free software lets you design and test warp drives with real physics - New Atlas - April 20th, 2024 [April 20th, 2024]
- Clinic offering free Kia software updates continuing through weekend - Yahoo! Voices - April 20th, 2024 [April 20th, 2024]
- Hyundai providing free anti-theft software installation this weekend at Greenspoint Mall - KHOU.com - April 20th, 2024 [April 20th, 2024]
- Kia offers free software upgrades in Cleveland this weekend: How to get yours - WKYC.com - April 20th, 2024 [April 20th, 2024]
- Hyundai providing free anti-theft software installion in Houston - KHOU.com - April 20th, 2024 [April 20th, 2024]
- Kia gives free software upgrades this weekend at the Cleveland Aquarium - WKYC.com - April 20th, 2024 [April 20th, 2024]
- Ubuntu Studio in new LTS beta; still the easiest creative Linux distro - CDM Create Digital Music - Create Digital Music - April 20th, 2024 [April 20th, 2024]
- Free anti-theft software upgrades available for Central Texas Hyundai drivers - KEYE TV CBS Austin - March 15th, 2024 [March 15th, 2024]
- How to get free help with income tax prep, or free software | Business | postandcourier.com - The Post and Courier - February 23rd, 2024 [February 23rd, 2024]
- Best encryption software of 2024 - TechRadar - February 23rd, 2024 [February 23rd, 2024]
- The best free VPN in 2024 - TechRadar - February 23rd, 2024 [February 23rd, 2024]
- AI imaging software generates a gallery of stereotypes, says Univ. of ... - GeekWire - November 28th, 2023 [November 28th, 2023]
- Roku's free update that makes it easier to find new shows and ... - TechRadar - November 28th, 2023 [November 28th, 2023]
- How To Find Alternatives To ChatGPT Forbes Advisor UK - Forbes - November 28th, 2023 [November 28th, 2023]
- How To Find Alternatives To ChatGPT Forbes Advisor Australia - Forbes - November 28th, 2023 [November 28th, 2023]
- Assassin's Creed Syndicate is now free to keep on Ubisoft Connect - OC3D - November 28th, 2023 [November 28th, 2023]
- Google Confirms Its Schedule for Disabling Third-Party Cookies in ... - Slashdot - November 28th, 2023 [November 28th, 2023]
- Tata Consultancy Services Ordered To Cough Up $210 Million In ... - Slashdot - November 28th, 2023 [November 28th, 2023]
- Meta Knowingly Collected Data on Pre-Teens, Unredacted ... - Slashdot - November 28th, 2023 [November 28th, 2023]
- US, Britain, Other Countries Ink Agreement To Make AI 'Secure by ... - Slashdot - November 28th, 2023 [November 28th, 2023]
- Plex Users Fear New Feature Will Leak Porn Habits To Their ... - Slashdot - November 28th, 2023 [November 28th, 2023]
- This free software converts drone videos into 2D maps in minutes! - DroneDJ - November 14th, 2023 [November 14th, 2023]
- How 'Hour of Code' Will Teach Students About Issues with AI - Slashdot - November 14th, 2023 [November 14th, 2023]
- Nothing is Bringing iMessage To Its Android Phone - Slashdot - November 14th, 2023 [November 14th, 2023]
- How To Build A WordPress Website In 9 Steps - Forbes - November 1st, 2023 [November 1st, 2023]
- Best Adobe Acrobat free alternatives - PC Guide - For The Latest PC Hardware & Tech News - November 1st, 2023 [November 1st, 2023]
- Monday.com Pricing and Plans 2023 Forbes Advisor Canada - Forbes - November 1st, 2023 [November 1st, 2023]
- PIRG Petitions Microsoft To Extend the Life of Windows 10 - Slashdot - November 1st, 2023 [November 1st, 2023]
- Kidsoft launches free calculator to simplify "Free Kindy" fee working - The Sector - November 1st, 2023 [November 1st, 2023]
- Drugmakers Are Set To Pay 23andMe Millions To Access Consumer ... - Slashdot - November 1st, 2023 [November 1st, 2023]
- Biden Signs Executive Order To Oversee and Invest in AI - Slashdot - November 1st, 2023 [November 1st, 2023]
- Meta's Next AI Attack on OpenAI: Free Code-Generating Software - The Information - August 18th, 2023 [August 18th, 2023]
- Millions of Samsung Galaxy S23 users just got a sweet free software ... - Yahoo Life - August 18th, 2023 [August 18th, 2023]
- Red Hat unlikely to be standard for enterprise Linux in future, says ... - iTWire - August 18th, 2023 [August 18th, 2023]
- Observing Basics: Astrophotography without a scope | Astronomy.com - Astronomy Magazine - August 18th, 2023 [August 18th, 2023]
- How Google is Planning To Beat OpenAI - Slashdot - August 18th, 2023 [August 18th, 2023]
- Tesla Says It Will Build New 'First of Its Kind' Data Centers - Slashdot - August 18th, 2023 [August 18th, 2023]
- Bank of Ireland IT Blunder Allows Customers To Withdraw More ... - Slashdot - August 18th, 2023 [August 18th, 2023]
- LK-99 Isn't a Superconductor - How Science Sleuths Solved the ... - Slashdot - August 18th, 2023 [August 18th, 2023]
- Mayor Bowser Announces Hyundai Anti-Theft Mobile Clinic | mayormb - Executive Office of the Mayor - July 30th, 2023 [July 30th, 2023]
- Responding to Data Breach at Contractor | CMS - CMS - July 30th, 2023 [July 30th, 2023]
- Five Auburn Alumni Receive Award for Work to Advance Tax Prep ... - CPAPracticeAdvisor.com - July 30th, 2023 [July 30th, 2023]
- Codeiums Varun Mohan and Jeff Wang on Unleashing the Power of ... - Nvidia - July 30th, 2023 [July 30th, 2023]
- Banner Health provides free concussion baseline testing for every ... - Queen Creek Sun Times - July 30th, 2023 [July 30th, 2023]
- Hugging Face, GitHub and More Unite To Defend Open Source in ... - Slashdot - July 30th, 2023 [July 30th, 2023]
- Lindsey Graham and Elizabeth Warren: When It Comes To Big Tech ... - Slashdot - July 30th, 2023 [July 30th, 2023]
- Best Dogecoin Casinos & Gambling Sites Ranked by DOGE Bonuses, Games, and More - The Hudson Reporter - July 2nd, 2023 [July 2nd, 2023]
- GCC Steering Committee Announces a Code of Conduct - Slashdot - July 2nd, 2023 [July 2nd, 2023]
- AI Predicts Diseases, Advancing Toward HIV Cure, Acquisitions ... - Bio-IT World - July 2nd, 2023 [July 2nd, 2023]
- WISeKey upgrades its WISeID digital identity and privacy platform - Help Net Security - July 2nd, 2023 [July 2nd, 2023]
- FBI Forms National Database To Track and Prevent 'Swatting' - Slashdot - July 2nd, 2023 [July 2nd, 2023]
- BYU Library offers free software classes - The Daily Universe - Universe.byu.edu - June 16th, 2023 [June 16th, 2023]
- Free Streaming Software Market to Witness an Outstanding Growth ... - The Bowman Extra - June 16th, 2023 [June 16th, 2023]
- How to build a virtual studio for free with free plugins and music ... - MusicRadar - June 16th, 2023 [June 16th, 2023]
- Battlebit Remastered Price - Is it free? - PC Guide - For The Latest PC Hardware & Tech News - June 16th, 2023 [June 16th, 2023]
- How to Install the iPadOS 17 Developer Beta on Your iPad for Free - MacRumors - June 16th, 2023 [June 16th, 2023]
- Human Resources Software: 4 HR Tools for Small Businesses - CO by the U.S. Chamber of Commerce - June 16th, 2023 [June 16th, 2023]
- YouTube Tells Open-Source Privacy Software 'Invidious' to Shut Down - Slashdot - June 16th, 2023 [June 16th, 2023]
- Arctic Could Be Sea Ice-Free in the Summer by the 2030s - Slashdot - June 16th, 2023 [June 16th, 2023]
- The IRS Will Test Out Its Own Free Tax Prep Software in 2024 - Money - May 20th, 2023 [May 20th, 2023]
- The IRS is working on software to allow taxpayers to file online - NPR - May 20th, 2023 [May 20th, 2023]
- RIB Software launches free-to-use RIB Carbon Quantifier for ... - GlobeNewswire - May 20th, 2023 [May 20th, 2023]
- Read the letter: Twitter accuses Microsoft of using its data in unauthorized ways - CNBC - May 20th, 2023 [May 20th, 2023]
- Police Facial Recognition Technology Can't Tell Black People Apart - Scientific American - May 20th, 2023 [May 20th, 2023]
- Porsche Taycan Gets EV Charging Station Finder in Apple Maps - Car and Driver - May 20th, 2023 [May 20th, 2023]
- Tesla to roll out free Full Self-Driving software, but there's a catch. Know here - HT Auto - May 20th, 2023 [May 20th, 2023]
- Meta Made Its AI Tech Open-Source. Rivals Say Its a Risky Decision. - The New York Times - May 20th, 2023 [May 20th, 2023]
- Generative AI needs guardrails as businesses add it to software ... - CIO Dive - May 20th, 2023 [May 20th, 2023]
- You may not care where you download software from, but malware ... - We Live Security - May 20th, 2023 [May 20th, 2023]
- International cooperation and the challenge of internet accessibility ... - BMC Medical Education - May 20th, 2023 [May 20th, 2023]
- IRS Might Make Tax Season a Whole Lot Easier - The Journal ... - The Wall Street Journal - May 20th, 2023 [May 20th, 2023]