USPAACC ANNOUNCES FAST 50 ASIAN AMERICAN BUSINESS AWARD HONOREES FOR 2022
The US Pan Asian American Chamber of Commerce Education Foundation (USPAACC) unveiled the winners of its prestigious Fast 50 Asian American Business Award competition.
USPAACC National President and CEO Susan Au Allen announced the winners and presented commemorative plaques to awardees during USPAACC’s signature CelebrASIAN Business Development Conference held at the Grand Hyatt Washington in Washington, D.C. May 25-27.
USPAACC’s prestigious Fast 50 Asian American Business Award publicly recognizes, showcases, and celebrates the nation’s fastest-growing Asian American businesses. The USPAACC-sponsored competition is based on the percentage growth of annual revenue for Asian American businesses with this year’s award focused on the top 50 such businesses.
Winners of the Fast 50 Asian American Business Award, who earned collective revenue of $1.6 billion last year, comprised an exhaustive list of industries, including IT, hospitality, manufacturing, professional services, staffing, accounting, advertising and marketing, automotive, engineering, facility services, finance and insurance, food and beverage, healthcare, import and export, legal services, logistics, management consulting, real estate, telecommunications, and transportation, respectively.
“Our Fast 50 Asian American Businesses Award recognizes the nation’s fastest-growing Asian American businesses. Our awardees are in very exclusive company reflecting their commitment to business excellence, innovation, resilience, and success across virtually every business sector, earning an impressive $1.6 billion in collective revenue,” USPACC National President and CEO Susan Au Allen said.
“USPAACC is proud to recognize and celebrate our awardees’ impressive achievements as we continue raising the bar in promoting, supporting, and strengthening Asian American businesses so vital to our economy and way of life.”
In order to be eligible, at least 51 percent of the business must be owned and managed by Asian Americans (U.S. citizens or legal permanent residents) and earn at least $1 million in gross annual revenue in 2019 and 2020 respectively. The selection is determined based on the nominee’s gross revenue percentage growth rate from the past two years. Two groups are considered: product-focused companies and service-focused companies. A nominee will compete in the group based on its business focus (product or service). Business revenues and growth rates were cumulated, verified, ranked, and officially revealed by Ernst and Young, the official ranking sponsor of the award.