For hundreds of companies throughout Utah the wait is finally over as 20 of those firms learned recently that they have been identified as 20 of the fastest-growing private companies in the United States by being ranked on the prestigious 2021 Inc. 500 list.

Additionally, 116 other Utah firms were included in (and ranked by) the 2021 Inc. 5000 list.

And with a total of 136 Utah-based firms ranked in this year's Inc. 5000 list, it appears that Utah has more companies included on the Inc. 5000 list this year than in any prior ranking.

{AUTHOR'S NOTE: I’m pretty confident that one of the firms identified online in the 2021 Inc. 5000 list as a Utah-based company is actually not one as there is no town or city named Madisonville in Utah. So I did NOT include this company in this report.}

Introduced in 1987 by Inc. magazine, the Inc. 500 identifies the 500 fastest-growing companies in the U.S. (based upon firms that submit three-year data to the publisher).

Logo courtesy of Inc. magazine.

The media company then expanded its annual ranking to 5,000 firms in 2007 with the launch of its Inc. 5000, an effort to give “readers a deeper, richer understanding of the entrepreneurial landscape and capturing a broader spectrum of success.

SLC-based Coldwater Capital Leads all Utah Firms at No. 27

Among the 136 Utah-based firms that made the 2021 Inc. 5000 list, Salt Lake City-based Coldwater Capital ranked the highest at #27 with growth of 10,728% over the three-year period of 2018-2020.

According to the Inc. 5000 list,

ColdwaterOwns and operates 14 car washes, as well as a mobile app for self-serve car washes.

Enclosed below is a list of all 136 Utah firms that are included in the 2021 Inc. 5000 (with hotlinks to company websites provided where available).

{NOTE:  The list below begins with the respective number that signifies where the respective firm was ranked within the 2021 Inc. 5000 list, followed by the company name, the Utah city where the company is headquartered, its percentage growth during the three-year period of 2018—2020, and the name of the company’s industry (as categorized by Inc.)}

Before sharing the list, however, here are some insights you might find interesting from an analysis of the information.

Additional Details about the Utah Firms on the 2021 Inc. 5000 List

Utah cities with the most amount of 2021 Inc. 5000 companies (in alphabetical order based upon businesses/city) are

  • Salt Lake City (20 companies)
  • Lehi (17 companies)
  • Draper (15 companies)
  • Sandy (8 companies)
  • Ogden and Orem (7 companies apiece)  
  • Pleasant Grove (6 companies)
  • American Fork and Provo (5 companies apiece)
  • Lindon, Midvale, Park City, South Jordan, and West Jordan (3 companies apiece)
  • Heber City, Kaysville, Layton, North Salt Lake, St. George, Vineyard, and Woods Cross (2 companies apiece)
  • Centerville, Eagle Mountain, Eden, Farmington, Herriman, Highland, Holladay, Logan, Murray, North Logan, Price, River Heights, Riverside, Riverton, Roy, South Salt Lake, and West Valley City (each with 1 company)

The Top 5 Industry Categories for Utah companies included in the 2021 Inc. 5000 list are

  1. Consumer Products & Services (21 firms)
  2. Software (17 firms)
  3. Business Products & Services (13 firms)
  4. Advertising & Marketing (10 firms)
  5. Manufacturing (8 firms)

Last of all … of the 136 Utah-based firms included in this year’s 2021 Inc. 5000 list,

  • Two Utah-based firms had more than 9,000 percent growth between 2018 and 2020:  Salt Lake City-based Coldwater Capital (over 10,725% growth) and Ogden-based HydroJug (over 9,030% growth);
  • 18 Utah-based firms had between 1,000% to 3,115% growth during this three-year-period; and
  • 13 Utah-based firms had between 500% to 1,000% growth during this three-year-period.

So … without further ado, here is the list.

136 Utah Companies Ranked in the 2021 Inc. 5000 List

{REMINDER: The number following each bullet point refers to the actual ranking of the company within the 2021 Inc. 5000 list.}


Anyway … that’s the breakdown of the ranking of Utah-based companies that made the grade for inclusion in the 2021 Inc. 5000 list.

Congrats to each team for your respective successes, and may such victories  continue forward for years to come.

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