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    City of New Haven Economic Development

    Growing New Haven's Economy | New Haven News

    Technology firms growing, hiring throughout state

    (11/9/2010) (From New Haven Register)

    By Mike Scricca

    For the 14th consecutive year, the annual event to recognize the state’s fastest-growing technology firms, known this year as the Marcum Tech Top 40 and organized by the Connecticut Technology Council, was the place to be for the state’s technology community.

    This year, the awards gala attracted 300 people in late October to the Toyota Presents the Oakdale Theatre in Wallingford.

    The event highlighted the diversity of the state’s tech community and also reminded people that even in the midst of an economic downturn, there are many key firms that are doing very well here, growing and hiring people throughout the state.

    The evening was about celebrating the winning companies, with the amazing success of Alexion Pharmaceuticals, the talk of the evening.

    In 2006 when Alexion, of Cheshire, was in the midst of Phase 3 clinical trials for its blockbuster drug Soliris, its reported revenue was only $1.6 million. Four years later, it reported revenue of $386.8 million.

    Those impressive numbers translate into a four-year growth rate of 24,726 percent and put Alexion atop the Marcum Tech Top 40 list for the second straight year. And with Soliris showing potential effectiveness in other areas, it may be able to broaden its markets to more than treating just one rare blood disease.

    In fact, it may be a while before another company, perhaps a fast-growing software company, dethrones the two-year winner.

    But it wasn’t all about Alexion at the 2010 Tech Top 40 this year. Priceline.com, one of Connecticut’s best-known brands, made the list of fast-growing tech companies for the third consecutive year. Windsor’s SS&C Technologies, a seller of financial services industry software and another public company, also made the list. It has always been among the technology companies showing consistent revenue growth over the last several years.

    On the private company side, Indeed.com, which is the most visited job search site on the Web, made the list for the first time. Its impressive revenue growth over the last four years of nearly 1,600 percent represents an Internet company that is a big player in the job posting and search world. The company continues to grow and expand at its Stamford headquarters.

    In addition, New Haven’s Higher One, which earlier this year went public with an initial public offering, also achieved notable growth of 372 percent.



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