North Carolina ranks 10th for growth of middle-market companies

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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