Laser Design named to Inc.list of fastest-growing companies for second consecutive year
Laser Design Inc., Minneapolis, a supplier of 3-D laser scanners, was named one of America's fastest-growing private companies by Inc. Magazinefor the second year in a row. The 2008 Inc. 5,000 award honors 5,000 U.S.-based, privately held, independent companies that are ranked according to percentage revenue growth from 2004 through 2007. Ranked 3,232ndnationally, Laser Design holds 64th place among the fastest-growing companies in Minnesota. The company's revenue growth in the last three years is 105 percent, and its number of employees has more than tripled.
Laser Design says its revenue continued to increase during tough economic conditions from 2006 to 2007. The company is employing the 2008 Economic Stimulus Act to encourage businesses to invest in its high-speed, high-accuracy laser scanning systems that may be eligible for a one-time 50 percent depreciation allowance for 2008 purchases.