SPOKANE, Wash. — Local mom and pop shops are vital to the culture of the Inland Northwest, but there is a separate subset of businesses that contribute to the local economy in a big way.
The Inland Northwest is home to a large group of businesses that have high growth potential beyond the region. CEO of Ignite and President of the Spokane Angel Alliance, Tom Simpson, has been immersed in the Spokane-area business community for years. He said a lot of well-performing local businesses are under-recognized.
Simpson said most people in our area were unaware that three companies in the Spokane region each made more than $10 million in 2019. When Simpson realized that, he decided to create 25+5.
The first 25+5 in 2020 was a published list of 25 companies performing well, plus five more to watch.
“The Spokane Journal of Business saw that and said we’d love to partner with you on that and make it an event,” Simpson said.
They made an official event in 2021, which included giving out three top awards.
Local company Continuous Composites won the most radical product or service award.
Continuous Composites runs a unique form of industrial sized 3-D printing which is more affordable than the industry standard.
“For us to receive the most radical product or service, we’re really proud to be part of this growing community of small businesses,” Allie Hambling, Continuous Composites Marketing Manager, said.
Like Continuous Composites, the other companies on the list are not the typical mom and pop shops down the street.
Ignite said they specifically focus on companies with “explosive growth potential.” Simpson said the businesses on the list have potential to make an impact nationally and internationally in the years to come.