Trucking ahead: Logistics industry dominates fastest growing companies in Chattanooga

Chattanooga keeps trucking ahead with a majority of its fastest growing businesses in the logistics industry, according to an annual list of America's fastest growing companies.

Thirteen local companies were among the country's fastest growing firms on the new Inc. 5000 list of the most rapidly growing firms. Eight of those firms were in logistics, including five freight brokerage firms which collectively have realized more than $100 million of additional revenues over the past three years and another three firms that are supporting the freight industry.

Chattanooga, which is within a day's drive of over half the U.S. population, is already home to two of the nation's biggest long-haul trucking companies - U.S. Xpress Enterprises and Covenant Transport - and the country's biggest privately owned warehousing company - Kenco Logistics. But much of the recent growth in the industry has come from spinoffs of the former Access America Transport, which began in Chattanooga in 2002 and was later acquired by Coyote Logistics and then UPS.

"The founding of Access America changed the freight industry and they brought a lot of people to Chattanooga who, after the company was sold, went on to start other businesses and that has done a lot of propel this industry here," said Cindy Lee, president of LYNC Logistics, a freight brokerage firm that ranked No. 366 on the Inc. 5000 list after growing to more than $28 million in sales in its first five years. "You can find quality employees here that help you grow and that's always key to a businesses success."

President Cindy Lee, left, cuts the ribbon at LYNC Logistics for their rebrand on Friday, Nov. 9, 2018 in Chattanooga, Tenn.

Lee, who previously ran a trucking company, said LYNC continues to grow this year, although the slowdown in the freight industry this year has slowed the pace of that growth some from previous years.

"We've got a great staff and, of course, our "chief happiness officer,' " Lee quipped, referring to the company's mascot dog named Lebron.

Across town, Trident Transport ranked No. 483 on its annual Inc. 5000 list, with a three-year revenue growth of 911%.

Trident Transport Logistics Coordinator Hannah Feldhacker, center, chats during the Chattanooga Area Chamber's 2019 Expo Chattanooga at the Chattanooga Convention Center on Wednesday, March 20, 2019, in Chattanooga, Tenn. Trident Transport was a finalist for the 51-300 employees category of the Chattanooga Area Chamber of Commerce Small Business Awards.

"We're exploding with growth in every aspect of our company," said Heath Haley, the president of the 6-year-old company which has grown to include three offices. "You can feel the energy exuding from our team as soon as you walk through our doors whether you're in Chattanooga, Tampa, or Minneapolis."

"We set out to be one of the leading logistics providers and one of the best places to work in nation, and we've done just that," said Mark Harrell, chief operating officer at Trident.

The 2019 Inc. 5000 achieved an astounding three-year average growth of 454 percent among those on the list, and a median rate of 157 percent.

"The companies on this year's Inc. 5000 have followed so many different paths to success," says Inc.editor in chief James Ledbetter. "There's no single course you can follow or investment you can take that will guarantee this kind of spectacular growth. But what they have in common is persistence and seizing opportunities."

The 13 Chattanooga companies on the Inc. list is four more than last year and eight more than the five on the list in 2017.

Contact Dave Flessner at dflessner@timesfreepress.com or at 757-6340.