Tayloe Murphy Resilience Awards Finalists Announced

09/08/2010

Despite a sputtering national economy, entrepreneurship is alive and well in Virginia, where twelve thriving businesses have been named finalists in the Tayloe Murphy Resilience Awards Competition.

The statewide competition, sponsored by the Tayloe Murphy Center at the University of Virginia's Darden School of Business, spotlights successful businesses located in the state’s most economically challenged communities.

The ten cities and counties finalists call home present economic challenges many businesses couldn't overcome: high unemployment, high poverty, lack of access to larger markets and unreliable internet access.

Instead of moving their businesses to more accommodating geographies, finalists are committed to their communities. They serve as leadership to business associations, spearhead revitalization initiatives and have built businesses that support their communities. They capitalize on what makes their hometowns great places to live and do business – and have overcome the odds.

Business incubator programs have helped them, as have favorable lease terms and loans and local workforces they readily invest in, train and employ. When they’re not working, they enjoy the low cost of living their communities offer.

“We at the Tayloe Murphy Center are pleased to learn about these incredible companies and their leaders and be able to share their stories with the Commonwealth,” said Gregory B. Fairchild, Tayloe Murphy Center Executive Director and Associate Professor of Business Administration at Darden. “Their growth rates are substantial and impressive,” Fairchild added, “with an average annual profit growth rate of 188.77% and employment growth rate of 54.33% from 2005 through 2008.”

In the effort to highlight economically challenged communities and recognize hard working business leaders contributing to Virginia's economic well being, the Tayloe Murphy Center cast a wide net. Over 100 entrepreneurial businesses from 45 counties applied. Five winners will be chosen to receive the Resilience Award: full scholarship funding to Darden’s Executive Education Program.

Winners will be announced at a celebration dinner in the Dome Room of UVA's historic Rotunda, September 1st.

Finalists:

Manufacturing/Agricultural
Banker Steel Co., LLC, Lynchburg
Morgan Lumber Company, Inc., Red Oak
Thomas A. Johnson Furniture Company, Inc., Lynchburg

Retail
Office Plus Business Centre, Danville
ParknPool Corporation, Lexington
Quail Cove Farms, Machipongo

Service
BandyWorks, Petersburg
Joint Logistics Managers, Inc., Prince George
Marstel-Day, Fredericksburg
Thompson & Litton, Inc., Wise

Wholesale
Evergreen Enterprise, Inc., Richmond
Solid Stone Fabrics, Inc., Martinsville

Founded in 1954, the Darden School of Business is a professional school that improves society by developing principled leaders in the world of practical affairs.

For more information, contact communication@darden.virginia.edu

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