The Inc. 5000, a barometer for the fastest-growing private companies in the U.S., again confirms Texas—and Dallas—as economic powerhouses. This year the 2023 list represents a combined $358 billion in 2022 revenue and over 1.18 million jobs. 

Inc. describes the list as “5,000 examples of how to scale your business.”

This year, Nashville’s CareBridge topped the Inc. 5000, posting a 157,144% three-year revenue growth. But Texas dominates the top five. Austin’s CharterUP nails the No. 2 spot with 111,130% growth, while DFW’s Green Light Distribution ranks No. 4 at 41,090%.

In a state of achievers, Dallas takes the spotlight. 482 Texas companies made the cut, with the Dallas-Fort Worth-Arlington metro claiming 216.

In aggregate, Dallas-Fort Worth leads the state in terms of total revenue, jobs added, newly founded companies, and repeat honorees.

Crunching the Dallas numbers

A deeper dive into Inc.’s 5000 analysis reveals the Dallas area’s outsize economic contribution. It delivers nearly half of Texas’s total revenue—$22.9 billion out of $46.5 billion—and over half of the state’s new job openings, accounting for 30,301 of 56,194.

Dallas is also home to 35 of Texas’ 70 newly founded companies and 42% of the state’s repeat honorees. Its median growth of 209% slightly trails the state average of 217%.

How does that compare to other major Texas metros? Dallas’s 216 companies on the list are trailed by Austin’s 125, Houston’s 95, and San Antonio’s 24. Austin stands out with a median growth rate of 294%. Houston, while second only to Dallas in revenue with $14.9 billion, has a median growth rate of 218%.

Beyond the major cities, the extended North Texas area—encompassing Tyler, College Station-Bryan, Waco, Wichita Falls, and Sherman-Denison—has 12 firms making the list.

No. 4 Green Light aims for $250M in sales, M&A-driven expansion

The Dallas region’s highest-ranking company is carving a space in the food and beverage industry. Green Light Distribution, based in Coppell, has rapidly ascended the ranks as a distributor of wine and craft spirits. Founded in 2019, the startup has cemented a Texas footprint, tapping into over 4,000 retail spaces. Merging with Houston’s United Wine & Spirits in 2022 positioned the startup as the “third-largest spirits distributor in Texas.”

June saw another significant milestone for the company: a minority growth equity investment from Milwaukee’s SixSibs Capital. The capital infusion bolsters Green Light’s mission to “level the playing field” for small and mid-size brands in the marketplace. CEO Dusty Odell is eyeing an M&A-fueled expansion beyond Texas borders and a target of $250 million in sales for 2023.

“Retailers want to offer new brands to customers,” Odell said in a June announcement, “and we’re the best source for them in Texas, and soon, more states.”

CEO of SixSibs Capital, Jack Wigdale, shares the outlook. “We believe that Green Light is at an inflection point,” Wigdale said. “Now they’re well-positioned to upgrade their infrastructure and expand into new markets, all of which will help them go farther, faster.”

Spotlight on the Top 25 contenders in Dallas 

Here are the 25 highest-ranking companies from the Dallas metro as per the Inc. 5000 rankings. Find the full list here.

Companies on the 2023 Inc. 5000 are ranked according to the percentage of revenue growth from 2019 to 2022. To qualify for the Inc. 5000, privately held companies had to report a minimum revenue of $100,000 in 2019 and $2 million by 2022, according to Inc. 

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