Granite City #8 for Woman Business in Mass

GRANITE CITY ELECTRIC SUPPLY COMPANY RANKED 8th IN TOP 100 WOMAN-LED BUSINESSES IN MASSACHUSETTS


Quincy, MA – Babson College recently released the results of a five year study on 191 woman-led firms in Massachusetts. The study uncovered key trends and ranked the top 100 companies based on reported gross revenues. Granite City Electric Supply was ranked number 8 in the state.

The 2005 study discovered that woman-run businesses are key drivers of Massachusetts’s revenue and employment as well as strong sources of philanthropic activity. The companies in the survey reported total revenues of $10 billion and together employed more than 21,000 people throughout the state.

“We have participated in this worthwhile study since its inception 5 years ago,” said Phyllis P. Godwin, Chairman and CEO of Granite City Electric. “This study provides evidence to the fact that women-led businesses are a major contributor to the economic structure and philanthropic efforts in the state of Massachusetts.”

Professor Nan S. Langowitz, Director of the Center for Women’s Leadership at Babson College and chief researcher and author of the study commented, “The women CEO’s are committed to building strong and thriving organizations for the long haul. Their focus on top-line growth has made their companies tremendously successful despite the economic environment of the past few years.”

Trends identified by the study include that 98 percent of the participating companies regularly contribute to local charitable and non-profit organizations. More than 77 percent of the CEOs use a participatory leadership style and seek the opinions of others in their decision making. And the top five sectors identified by the study are diverse and include professional services, high technology, construction, healthcare, pharmaceuticals and medical products as well as travel services. The full research report, including the Top 100 list, is available for download at www.babson.edu/cwl/top100.

Granite City Electric Supply Company, a family owned and operated electrical distributor and a certified Women’s Business Enterprise, was founded in 1923. It is headquartered in Quincy, MA and has 20 locations in New England. The company is the official distributor of electrical supplies and lighting to the Boston Red Sox and The New England Patriots. The web site is www.granitecityelectric.com.