CHICAGO- Nitel, a nationally recognized provider of telecommunications network services today announced that it was named to Fortune’s Inner City 100. The Inner City 100, a project of the Initiative for a Competitive Inner City, highlights the fastest growing inner city businesses in America. Companies were ranked by compound annual growth rate (CAGR) based on their revenue over the five-year period between 2005 and 2009. Nitel ranked 7th on this year’s list.
“We are truly delighted to be included on the Inner City 100 list,” said Nitel CEO Rick Stern. “Our secret has been to provide value to our clients through attentive service and competitive prices.” He continued, “Clients like regional banks, rural healthcare companies and schools with locations in out-of-the-way areas have traditionally been underserved by telecom carriers. For Nitel, they are our central focus.”
Nitel is considered a first-mover in the rural broadband services market. The firm not only managed to survive a shakeout of weaker competitors during the Great Recession but it also experienced an impressive 79% compound five-year growth rate.
CEO Rick Stern’s commitment to the Chicago community comes in the form of annual donations to a local orphanage.