New Research from American Express and Dun & Bradstreet show that mid-sized firms are responsible for more than half (51.7%) of U.S. job growth since 2011. This underscores the role BDCs play in providing vital growth capital to middle market businesses.
From the report: Of the 51.8 million new jobs that were created since 2011, 26.8 million (or 51.7%) were created by middle market firms. Middle market firms also lead the way in revenue growth and account for more than one quarter (26.8%) of all revenue produced by U.S. businesses, equating to roughly $9.3 trillion.
More from the report:
- Middle market companies experienced the greatest growth in overall numbers (83.9%), employment (103.3%) and revenue (99.9%) since 2011.
- Middle market firms are choosing middle America. Commercially-active U.S. middle market companies can be found nationwide, and states in Middle America have the greatest concentration:
- Illinois (1.55%)
- Wisconsin (1.53%)
- Michigan (1.36%)
- Ohio (1.29%)
- North Dakota (1.28%)
- New Jersey (1.28%)
- Kansas (1.26%)
Three states more than doubled their number of middle market companies:
- Texas (+104.1%)
- Ohio (+102.2%)
- Michigan (+100.5%)
- The manufacturing and wholesale trade industries account for one-third of all middle market companies, and firms in both industries have grown by at least 120% since 2011.
Graphic, courtesy of Business Wire.