Staples Inc. surprised Cedar Rapids-based Raining Rose Inc. with a $1,500 gift card. The surprise donation is in celebration of the company’s recent naming as one of the fastest growing inner-city businesses in the country by Staples Foundation and the Initiative for a Competitive Inner City (ICIC), a not-for-profit organization whose mission is to promote economic prosperity in America’s inner cities.
The Inner City 100 is an annual ranking of the 100 fastest-growing companies in America’s inner cities. The Staples Foundation has been a key supporter of ICIC and the Inner City 100 program for the past eight years, contributing nearly $1.5 million to date to help inner-city businesses grow and thrive and help create healthy, urban communities.
Raining Rose is the manufacturer and distributor of natural body care products and focuses on creating products that are all-natural and crafted from the highest quality ingredients. Founded in 1996, Raining Rose posted a five-year annual growth rate of 27 percent. Raining Rose recently announced the construction of a new facility that will be completed spring 2012. The groundbreaking ceremony at its future site location was Friday, September 2, 2011 and was open to the public. The new Raining Rose facility will be built where the Allis and Chalmers manufacturing plant once stood.
“It is a great honor to be recognized by the Staples Foundation and ICIC for our growth,” said Chuck Hammond, president of Raining Rose, Inc. “As we break ground during this special celebration today, I encourage members of the community who were a part of Allis and Chalmers to come look around. There are a lot of great memories at that site and we are looking forward to celebrating those.”
“Staples is proud to recognize Raining Rose for their continued growth, especially during these challenging economic times,” said Amy Shanler, director of community relations at Staples. “We remain committed to raising awareness of the vital role inner-city businesses play in communities throughout the country.”
Staples has long been an advocate for inner cities, minority business ownership and entrepreneurialism and raising awareness of the importance of a robust business sector in creating healthy, urban communities. This year, Staples Foundation renewed its support of ICIC’s Inner City 100 through another $200,000 grant. To date, Staples Foundation has contributed $1.5 million to ICIC and their economic development programs.
In 1999, ICIC created the Inner City 100 program to change perceptions about inner city business. ICIC uses data to prove that not only can companies thrive in inner cities, but there are competitive advantages of doing business in inner cities. Since then, more than 660 Inner City 100 companies have been responsible for creating more than 70,000 new jobs, employ nearly 100,000 people of whom 40 percent are inner-city residents and have an average compound annual growth rate of 50 percent and generate approximately $2.2 billion in total sales per year.
About Raining Rose Inc.
Raining Rose manufactures natural and organic lip balm and body care items in Cedar Rapids, Iowa and is certified to manufacture USDA organic products. Raining Rose was recently inducted into the ICIC 100 Hall of Fame after being honored for its outstanding growth as an inner city company six consecutive years and recognized locally as one of Corridor Business Journal’s 15 Fastest Growing Companies. For more information, visit www.rainingrose.com.
About Staples in the Community
Staples contributes to educational and youth-oriented community efforts, from literacy and mentoring to career skills development, through in-kind and monetary donations and grants from Staples Foundation, the private charitable arm of Staples, Inc. Through its community relations efforts, Staples and Staples Foundation have helped more than 6,000 organizations in 2,000 communities across 27 countries. Community relations is also an integral component of Staples Soul, which recognizes the connection between long-term business success and the impact Staples has on associates, communities and the planet. For more information, visit www.staples.com/community.
About Initiative for a Competitive Inner City
The Initiative for a Competitive Inner City is a nonprofit research and strategy organization and the leading authority on U.S. inner city economies and the businesses that thrive there. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC expands inner city economies by providing businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. ICIC’s unique knowledge and expertise about inner city success factors and thriving companies is developed from specialized urban networks and path-breaking research. For more information, visit www.icic.org.
