June 24. North Carolina has an estimated 4,614 middle-market companies, which make up 0.85% of all firms in the state, according to the latest Middle Market Power Index from American Express and Dun & Bradstreet. Middle-market companies are defined as those with $10 million to $1 billion in annual revenues.
The newest report in the series finds that the middle market is an increasingly important sector as it has accounted for more than half (53%) of total job growth nationally since 2011. Additionally, while middle-market firms make up less than 1% of all U.S. businesses, they contribute one in four dollars (26%) and employ one in four workers (27%) in the private sector.
North Carolina ranks 10th out of all 50 states and Washington, DC for growth in number of middle market firms from 2011-2016.
The table below outlines how the number of North Carolina’s middle-market firms compares to national data as well as to large and small companies:
| Number of Firms | Share of Firms | % Chg in # MM Firms, 2011-2016 | ||||||
| Small (<$10M) | Middle Market ($10M-$999M) | Large ($1B+) | Total | Small (<$10M) | Middle Market ($10M-$999M) | Large ($1B+) | ||
| North Carolina | 537,816 | 4,614 | 73 | 542,503 | 99.1% | 0.85% | 0.01% | 92.5% |
| Total U.S. | 18,910,859 | 182,578 | 3,025 | 19,096,462 | 99.1% | 0.96% | 0.02% | 86.8% |
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