Titus Bakery has been recognized as one of the 2015 Indiana Companies to Watch, an awards program presented by the State of Indiana and the Office of Small Business and Entrepreneurship (OSBE) and endorsed by the Edward Lowe Foundation.
Titus Bakery is based in Lebanon, Indiana, and recently announced plans to open a second retail location near Westfield, Indiana. The bakery is featured on The Baking Channel's Discovering America's Bakeries series.
Twenty companies from Indiana will be honored as outstanding second-stage companies during the seventh annual Indiana Companies to Watch awards program, held on August 27 in Indianapolis.
Companies to Watch is an awards program that celebrates Indiana’s privately-held second-stage companies, those businesses that are past the startup phase, are considered to be established, and face issues of growth, not survival.
Companies honored range in industries and have headquarters based in 11 counties throughout the state. Among the 20 honored companies in 2015 is Titus Bakery.
From 2011 through 2014, these companies generated $579 million in revenue and added 313 employees (both in Indiana and out of state), reflecting a 94 percent increase in revenue and 50 percent increase in jobs for the four-year period. That translates into a 25 percent annual revenue growth and 14 percent annual growth in employees.
These companies project continued growth in 2015, with a 23 percent revenue increase and 16 percent growth in employees (both in Indiana and out of state) compared to 2014. If their projections hold, these companies will have generated $820 million in revenue and added 761 employees over the last five years — a 139 percent increase in revenue and 174 percent increase in jobs since 2011.
This program would not be possible without the generous support of the State of Indiana and the Office of Small Business and Entrepreneurship by the Edward Lowe Foundation. Sponsors include the Barnes & Thornburg, Katz Sapper & Miller, Key Bank, Purdue University and Ivy Tech Corporate College.
Companies to Watch firms must employ between six and 150 full-time equivalent employees, have between $750,000 and $100 million in annual revenue or working capital in place, and demonstrate the intent and capacity to grow based on employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable strengths.