14th Annual GrowFL Florida Companies to Watch Honorees Announced

Innovative Leaders Driving Florida's Economic Growth

Orlando, Fla. (Oct. 28, 2024) — Power Bolt and Tool is proud to announce that it has been selected from more than 500 nominees as an honoree for the 14th Annual GrowFL Florida Companies to Watch Award. The prestigious awards program, now in its fourteenth year, recognizes outstanding second-stage companies across the state for their contributions to Florida’s economic landscape. The 14th Annual GrowFL Florida Companies to Watch awards program is brought to you by Nperspective CFO & Strategic Services, in association with the Edward Lowe Foundation. The honorees selected represent a diverse range of industries, all demonstrating impressive growth potential. Power Bolt and Tool was recognized for their innovative approaches, strong leadership, and dedication to making a positive impact in our community and state.

A Rigorous Selection Process Identifies Florida's Rising Stars

Earlier this year, 97 finalists were announced. The final selection of 50 honorees followed a rigorous judging process by a panel comprised of past honorees, entrepreneurs, economic development professionals and business leaders from throughout Florida.

Companies were evaluated on a comprehensive set of criteria including:
• Growth in employment
• Impact on job creation
• Sales growth
• Financial performance
• Innovation in products or services
• Response to adversity
• Community Involvement

Celebrating Achievements and Highlighting Impact

“We are truly grateful to be recognized as an honoree in this year’s GrowFL Florida Companies to Watch Awards. This achievement reflects the unwavering effort and dedication of our entire team at Power Bolt and Tool. In the face of economic challenges, our employees have demonstrated incredible resilience, fueling the growth we’ve seen in recent years. I’m beyond proud of everything we’ve accomplished together, and this honor belongs to every member of our team,” said Tony King, President of Power Bolt and Tool.

“GrowFL Florida Companies to Watch is dedicated to recognizing the invaluable contributions of second-stage businesses,” said Pete Previte, Chair of GrowFL Board of Directors and Broker Associate, CRES CORP. “These companies are the driving force behind Florida’s economic vitality, fostering job creation, innovation and sustainable growth.”

This year’s honorees showcase the vibrant tapestry of Florida’s entrepreneurial ecosystem. They hail from diverse industries and represent a broad range of communities across the state, with many led by women, veterans, and minorities. Their success stories are a testament to Florida’s thriving environment for entrepreneurship.

A Legacy of Honoring Excellence

Since the program’s inception in 2011, GrowFL has bestowed this prestigious award upon 650 outstanding Florida companies. With the addition of the 2024 honorees, this brings the total to 700 companies recognized for their positive economic and community impact. Many of the past honorees have transitioned to larger, more established stage 3 and stage 4 businesses employing over 500 people.

A Culture of Resilience and Innovation

“The unwavering growth and resilience of Florida's entrepreneurial community continually inspires me,” said Marius Dobren, Chair of the GrowFL Florida Companies to Watch Awards Committee and President of Sawgrass Financial. “These honorees have consistently demonstrated a remarkable commitment to growth and success. Like their predecessors, they have met challenges with resilience, pushed the boundaries of their industries, and inspired their teams to achieve extraordinary results.”

About the GrowFL Florida Companies to Watch Awards Program

For eligibility, companies must be headquartered in Florida with 6-150 employees and revenue between $750,000 and $100 million. Over the past four years (2020-2023), these honorees collectively generated close to $2 billion in revenue and created 1,462 jobs, reflecting a remarkable 180% revenue increase and 127% job growth. This translates to an average annual revenue growth of 45% and 32% employee growth.

Continued Growth Projected for Honorees

These companies projected consistent growth, with a projected 31% revenue increase and 19% employee growth in 2024. If their projections hold true, these companies will have generated more than $2.9 billion in revenue and added 1,951 employees over the last five years — a staggering 266% increase in revenue and 169% increase in jobs since 2020.

Celebration and Recognition Await

The official recognition of these Honorees will take place on February 27, 2025, at the Hard Rock Live in Universal CityWalk, Orlando, FL. Tickets are currently available for purchase. For more information or to purchase tickets, visit https://growfl.com/about-growfl-flctw/registration/.

Sponsors for this year’s event include: Nperspective CFO & Strategic Services, Bank of America, Florida Power & Light Company, OUC – The Reliable One, Stankowski Advanced Strategies, Studio Pinard, The Florida High Tech Corridor Council, TheRiot Agency, University of South Florida, G&A Partners, Atlantic Logistics, Engineering & Computer Simulations, CEO Nexus, eXpress Badging, Align Business Advisory Services, Capital One, Pinellas County Economic Development, Florida Economic Development Council, Orange County, Research Park at Florida Atlantic University, Florida Trend. For more information on sponsorships, visit: https://growfl.com/sponsors/

About GrowFL: GrowFL is Florida's premier organization dedicated to accelerating the success of second-stage companies. We equip these high-growth businesses (with at least 6 employees and $750,000 in revenue) with the tools and connections they need to overcome unique challenges and achieve their full potential. Through our diverse programs and proven methods, GrowFL empowers Florida's second-stage companies to drive economic prosperity throughout the state. https://www.growfl.com