Jump-starting The State's Economy

Mark Loberg's garage-based start-up isn't the only small business in the state growing like crazy, but his Premier Garage is a prime example.

He caught on to a trend in the home-remodeling market: Maximizing garage space. He combined two specialties, floor epoxy and cabinets, and aimed for the high-end niche market.

"We've exploded like an atom bomb," said Loberg, who started the business in his garage and as recently as 2 1/2 years ago employed 26. advertisement Today, his operation in Phoenix has more than 60 workers; he also employs about 20 at his manufacturing and distribution plant located in Atlanta. Next month, Loberg plans to move the company into a new larger space in Phoenix.

Premier is one of "50 Arizona Companies to Watch" that the Arizona Small Business Association will recognize Thursday at the Arizona Biltmore Resort & Spa.

Loberg grew the company by using a franchise model. He now has 76 franchise locations nationally.

Annual sales have grown 750 percent the past four years, he said. The company recently was ranked 179 for fast-growth private companies by Inc. magazine.

"It's kinda like riding a rocket ship with no handle," Loberg said, crediting his employees and his own active involvement in the company for his success.

"I'm here every single day of the week, putting in 12- to 14-hour days," he said. "That work ethic carries down the line to the people who work for us." Together, the 50 honored businesses expect to create 500 full-time jobs in 2006, a 26 percent annual gain over their 2005 workforces, proving that small, fast-growing companies can be a powerhouse for employment.

Arizona jobs, from large and small employers, are expected to grow 5.5 percent this year, according to the state Department of Economic Security. "Those are real jobs, not projections," said Tom Fraker, the executive director at the business association, about the plans of the 50 companies. "There wasn't one company that wasn't trying to hire one, five, 10 people." The growth is something not always well-documented, as most business headlines deal with financial markets and publicly traded companies.

Fraker wanted to change that. He connected with the Edward Lowe Foundation, known for its work promoting entrepreneurship, to find these hidden gems among companies in Arizona.

Fraker's goal was to get their stories out, proving their value to the economy, and to create a venue for them to find support for their rapid growth.

In all, their workforces will hit about 2,400, with an annual payroll of $100 million. Sales also are skyrocketing 57 percent, with expectations that they will generate $725 million this year.

The small-business group and the Lowe foundation also will recognize five companies out of the 50 for excellence in cognitive company culture, community compassion, creative customer relations, cutting-edge change and competitive clout. The five areas distinguish these companies among their competitors and are the foundation of their success, Fraker said.

Peter Burns, who recently taught entrepreneurship at Arizona State University, said that these innovators are key to keeping the Arizona economy growing and that they must be recognized.

"You're looking at the future Fortune 100 companies, if they choose to take that route," he said. "None of them are born major; all of them start minor."

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