After last year’s placement on the Inc. 5000 list, Economic Modeling Specialists Inc. has been recognized as one of America’s fastest-growing private companies.
EMSI’s achievement was recently publicized in Forbes magazine on the “Awards Report” page produced by Dallas-based Chorley Publishing.
“We’d like to thank all of our customers for their loyalty, feedback, and support, which has made our company what it is today,” said EMSI CEO Andrew Crapuchettes. “Our customers have actively informed the rapid development of our products and services, helping us make the maze of socioeconomic data easily accessible to the decision makers who need it most.”
Noted regional economist M. Henry Robison founded the company in 1987 as Robison & Associates, which then became EMSI in 1995. EMSI initially specialized in building custom regional economic models, and began producing its own integrated data set to support them. In 2001, Robison and his colleague Kjell Christophersen formed CCbenefits Inc., an economic consulting firm specializing in providing impact studies and regional planning data for community and technical colleges. In 2007, the two companies officially merged under the EMSI name and now provide a diverse portfolio of economic data, software, and consulting solutions to state and local agencies, colleges and universities, workforce development boards, economic development councils, consultants, and private sector clients.
EMSI’s data-driven socioeconomic impact studies for colleges have been recognized in peer reviews as comprehensive, conservative, and accurate. EMSI has performed the studies for over 800 colleges in the U.S. and Canada, and has most recently entered the U.K. market with some 40 contracts already signed.
EMSI is also recognized as a leader in providing integrated economic data gathered from dozens of government sources and packaged in a powerful, user-friendly web-based analysis suite, Strategic Advantage. The tool’s user base has skyrocketed to over 2,500 since 2003, mostly from the state and local public and public-private sector, but also larger agencies such as the U.S. Treasury Department and corporations such as Fortune 500 staffing giant Manpower Inc.
Some highlights of EMSI’s work in the past year include:
- Official merger with CCbenefits Inc.;
- Release of major software and data upgrades to Strategic Advantage in February and October 2007;
- Integration of CCbenefits’ Community College Strategic Planner into EMSI’s Strategic Advantage to form a single modular analysis suite;
- Overseas expansion with completion of a U.K. pilot study measuring colleges’ economic impact, followed by dozens of contracts with other U.K. colleges;
- Partnership with Maher & Maher to serve WIRED regions, with subsequent ongoing consulting project in Newton, Iowa, where a major Whirlpool closure has threatened the region’s economy;
- Partnership with Purdue University in a major rural competitiveness research project funded by the U.S. Economic Development Administration.
Even after seven years of rapid growth and new product development, EMSI remains focused on supporting and improving its current solutions and current client base.
“Last year, return business became the most important part of our revenue,” said Crapuchettes. “We have a very high renewal rate, which shows outstanding customer satisfaction. This remains a major focus area for us even as we consider entering new markets and developing new solutions.”