Paragon SDC Honored with Comerica Bank Award

PARAGON SDC PRESS RELEASE

Paragon Space Development Corporation has been recognized as one of the 2008 Comerica Bank Arizona Companies to Watch. Paragon was honored at an awards ceremony during the second annual Comerica Bank Arizona Companies to Watch event, November 11 at the Phoenix Convention Center.

“Comerica Bank Arizona Companies to Watch awardees are one of the reasons that Arizona leads the country in economic growth. Through the efforts of great employees who deliver innovative products and services, these companies are growing at over four times the national average!” says Joan Koerber-Walker, CEO of the Arizona Small Business Association.

“ASBA is proud to be supporting this growing community of excellent companies. It’s about time they got the recognition they so richly deserve,” Koerber-Walker adds.

“Paragon’s growth is a direct result of our long term investments in R&D and steady focus on our strategic goals.  We are planning for continued growth as our traditional market expands and we enter new markets,” said Lance Bush, PhD CSO of Paragon.

Paragon, founded in 1993, is a full-service aerospace engineering and technology development firm specializing in life support in extreme environments. Paragon is a major supplier of environmental control and life support system and sub-system design for the aerospace industry with expertise in thermal control for orbiting and re-entering spacecraft and hyper-velocity aircraft. 

Companies considered for the Comerica Bank Arizona Companies to Watch list must be second-stage companies, defined as having 10 to 100 full-time-equivalent employees and generating $750,000 to $100 million in annual revenue or working capital from investors or grants. In addition, the companies must be privately held and headquartered in Arizona.

Judges evaluated the companies for their demonstrated intent and capacity to grow based on one or more of the following

  • Employee or sales growth.
  • Exceptional entrepreneurial leadership.
  • Sustainable competitive advantage.
  • Other notable factors that showcase the company’s success.

Information about Comerica Bank Arizona Companies to Watch can be found at www.asba.com and www.AzCompaniesToWatch.org.

The 2008 Comerica Bank Arizona Companies to Watch Awardees will be honored at the third annual awards ceremony November 11 the Phoenix Convention Center from 6-9 p.m. In addition, five companies will receive the Spotlight Awards in the following areas: Company Culture, Customer Service, Change/Innovation, Community and Commerce at the event. Until then, it is top secret.

Comerica Bank Arizona Companies to Watch is presented by ASBA (the Arizona Small Business Association), Arizona’s number one business association in collaboration with the Edward Lowe Foundation. The Edward Lowe Foundation supports entrepreneurship through research, recognition and educational programs, which are delivered through entrepreneur support organizations (ESOs) like ASBA, with a focus on second-stage companies.