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Bay Electric makes Virginia's 2005 Fantastic
Fifty list
For 2nd
year in a row, Virginia Chamber of Commerce names Bay to its list
of the Commonwealth's fastest growing small companies
Newport News, Va., August 1, 2005
– For the second year in a row, the Virginia Chamber of Commerce
has named Bay Electric Co., Inc., (www.bayelectricco.com)
a general contracting and electrical service company based in
Newport News, to the chamber’s prestigious Fantastic Fifty list of
Virginia’s fastest growing small
companies.
The Virginia’s Fantastic 50 Awards, now in its tenth year, is the
only program that highlights 50 of Virginia’s fastest growing
companies on a statewide basis and is open to all types of
businesses. To be selected for the
Fantastic Fifty, companies must demonstrate tremendous growth over
a four- year period, be privately owned, and be headquartered in
Virginia.
Bay Electric, a minority owned company
in business for over 40 years, made the 2005 list by recording a
remarkable growth rate of over 231% % from 2000 to 2003, a period
when other businesses were experiencing an economic slowdown.
“Making the Fantastic Fifty list two
years in a row is definitely a credit to Bay’s employees,” said
John F. Biagas, CEO/President of Bay Electric. “Bay’s growth is a
direct result of the hard work and extra effort that our employees
deliver and our company’s dedication to our customers and to
customer service,” he added.
Biagas, who purchased Bay Electric in
1997, has directed the company as it changed from a company
focused primarily on electrical service to a company specializing
in general construction and engineering as well as electrical,
technology, security and fire alarm systems and services. Since
Biagas’ acquisition, Bay has worked on million dollar projects for
the U.S. Army, the U.S. Navy, the U.S. Air Force, the General
Service Administration, the USDA, the Veterans Administration,
Wal-Mart and numerous other agencies and businesses.
Bay, one of the fastest growing minority-owned companies in
Virginia, is a certified HUBZone contractor and an 8(a) SDB
company. Privately held and family-owned, Bay has approximately
100 employees and a satellite office in Atlanta, Ga., and
Charleston, S.C.
About the Fantastic Fifty
Started in 1996, the Fantastic Fifty
highlights 50 of Virginia’s fastest growing
small
companies on a statewide basis. The Virginia Chamber of Commerce
sponsors the Fantastic Fifty in an effort to help generate more
recognition for small, entrepreneurial companies throughout the
Commonwealth as well as create new jobs and capital investment
Other companies, besides Bay, making the
top 50 list included THR Enterprises of Norfolk, Va., which topped
the list in both 2004 and 2005, Intelligent Data Systems, Inc.,
Applied Marine Technology, Gray Hawk Systems, INDUS corporation,
Main Street Homes, an TESORO Corporation.
For more information about Bay Electric, call 757-595-2300 or go to www.bayelectricco.com.
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