The Initiative for a Competitive Inner City defines inner cities as core urban areas with higher unemployment and poverty rates and lower median incomes than surrounding metropolitan statistical areas. Candidates for the 2007 Inner City 100 must:
For the 2007 list, the ICIC solicited approximately 4,000 nominations with the aid of the U.S. Conference of Mayors, Merrill Lynch (NYSE:MER), Staples (NASDAQ:SPLS), and the Small Business Administration. Nominated companies sent in brief applications. More than 300 were invited to complete a survey and submit financial documents for 2001, 2004, and 2005 (the last year for which complete data was available). That formed the basis of financial due diligence conducted by the ICIC with the assistance of pro bono adviser PricewaterhouseCoopers. The companies were ranked by revenue growth. The ICIC assumes full responsibility for the accuracy of its assessments.
Leigh Buchanan is an editor at large for Inc. magazine. A former editor at Harvard Business Review and founding editor of WebMaster magazine, she writes regular columns on leadership and workplace culture. @LeighEBuchanan