ST. LOUIS--(BUSINESS WIRE)--GE Capital and Slate’s Roadshow for Growth rolls into St. Louis today as part of a six-month, 20-city tour that will address the issues of middle market businesses, a sector that generates $9 trillion in annual revenue and accounts for nearly 34 percent of total U.S. employment. According to new research released today by the National Center for the Middle Market (NCMM), mid-sized companies in the St. Louis area comprise only 1% of total businesses, yet generate 26% of total revenue and account for 32% of St. Louis’ employment.
“When middle market companies do well, the economy does well”
Traveling in a branded bus, GE Capital and Slate’s Roadshow for Growth started in Kansas City yesterday. While in St. Louis, Roadshow for Growth’s second stop, it will release new data that indicates that St. Louis’ middle market is growing. Conducted by NCMM, the research reveals that the St. Louis middle market:
- Employs roughly 1/3 of the St Louis workforce and consists of more than 510,000 employees;
- Grew revenues 5.1% versus 2.9% for S&P 500 companies nationally;
- Employment is expected to grow 1.9%;
- Generated $61.6 billion in revenue;
Services segment is the largest source of revenue at approximately
$17.6 billion in 2012
and the biggest source of jobs with approximately 250,000.
“When middle market companies do well, the economy does well,” said Mike Pilot, chief commercial officer of GE Capital. “As the leading lender to the middle market and sponsor to a number of programs to help this critical segment of the U.S. economy grow, we think helping convene a dialogue around the needs of our customers is critical to driving economic growth and creating jobs. From the National Center for the Middle Market to the Roadshow for Growth, our goal is to help policymakers and job creators alike understand that the middle market is the market that drives America.”
In St. Louis, the Roadshow for Growth will be holding a discussion, Becoming a Better Leader, in which Mike Pilot, chief commercial officer of GE Capital, will interview MLB Hall of Famer Ozzie Smith at Busch Stadium’s Champions Club. The event will include a Q & A with Ozzie Smith and Mike Pilot.
After its stop in St. Louis, the Roadshow for Growth will visit middle market businesses in Indianapolis, Chicago, Elkhart, Detroit, Cleveland, Pittsburgh, New York, Dallas, Atlanta, and Los Angeles, among other cities. The tour will culminate in Columbus, Ohio at the third annual National Middle Market Summit in late October. At each stop, the Roadshow for Growth will host a variety of events, ranging from town hall discussions and conversations with city mayors to visits with select middle market businesses.
About GE Capital (www.gecapital.com):
GE Capital is one of the world’s largest providers of credit and expertise. For more than 1 million businesses, GE Capital provides financing to purchase, lease and distribute equipment, as well as capital for real estate and corporate acquisitions, refinancings and restructurings. GE Capital is a leader in a number of industries, from airlines, healthcare and energy financing to fleet, franchise and middle market corporate finance. For approximately 80 million consumers, GE Capital offers credit cards and retail sales finance programs. GE Capital is an extension of GE's rich heritage of building and supporting growth, providing customers with insight, knowledge and expertise in addition to financing.
About Slate (www.slate.com):
Slate is a daily magazine on the Web that offers analysis and commentary about news, politics, culture, business, law, and technology. Slate's strong editorial voice and witty take on current events have been recognized with numerous awards, including the National Magazine Award for General Excellence Online and the Missouri Honor Medal for Distinguished Service in Journalism. Reaching 17 million unique visitors per month, Slate is the centerpiece of the Slate Group, an online publishing subsidiary of the Washington Post Co. (NYSE:WPO)
National Center for the Middle Market (www.middlemarketcenter.org):
The National Center for the Middle Market (NCMM) was founded in 2011 in partnership with GE Capital and is located at The Ohio State University’s Fisher College of Business. The Center is the leading source of research on the U.S. middle market economy.