An annual report that ranks the top 50 fastest growing companies in the Triad is showing some positive economic news. The Triad Business Journal's Owen Covington authored the latest 2015 “Fast 50 List”.
For this week's Business Report, he tells WFDD's Emily McCord that over the years, it' s been an indicator for the state of the regional economy.
Covington reports that companies related to construction made a strong showing this year, accounting for 20 percent of the top fastest growing businesses.
"That's something that's really different from what you've seen over the past five years," says Covington. "You're seeing this pent-up demand for new homes [after the recession], so they're really riding that wave."
When new homes are being constructed, secondary industries, like the furniture market also get a bump, as people are looking to outfit their houses. He adds that the retail sector is faring better, packaging and logistics companies are growing, as well.
"Manufacturers are producing more, they're moving products around, so that really reflects positively on what the economy is doing today."
The Business Report on 88.5 WFDD is a partnership with the Triad Business Journal.
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