Frankenmuth Woolen Mill Honored as a 2020 Michigan Celebrates Awardee!
June 25th, 2020 (Frankenmuth, MI) – Frankenmuth Woolen Mill is being recognized as one of the 2020 awardees for the Michigan 50 Companies to Watch award, presented by Michigan Celebrates Small Business. Frankenmuth Woolen Mill and its owners, Abby and Matt Curtis will be honored at an awards ceremony during the 16th annual Michigan Celebrates Small Business virtual gala event, July 28.
A Michigan Centennial Business, the Frankenmuth Woolen Mill is recognized as the oldest, continuously operated woolen mill in Michigan. The original mill structure is still in use and remains the same today as when first opened in October of 1894. Today, using much of the original equipment the Frankenmuth Woolen Mill is now one of the largest producers of wool bedding in the United States.
“To earn this award in our 126 year of business is really amazing” said Abby Curtis who owns and operates the company with husband Matt Curtis. “It speaks volumes about the commitment our team has to making what we consider to be the best and healthiest wool bedding on the market today” Curtis added.
This year’s Michigan 50 Companies to Watch have made a substantial economic impact, totaling $365 million in total annual revenue for 2019. From 2016 through 2019, these companies generated $1 billion in revenue and added 723 employees (both in Michigan and out of state), reflecting a 101.9% increase in revenue and 93.8% increase in jobs for the four-year period. That translates into a 26.9% annual revenue growth and 24.8% annual growth in employees.
“Michigan’s small businesses are the lifeblood of our local economies and play a vital role in making our communities attractive places to live, work, visit and play,” said Josh Hundt, Chief Business Development Officer for the Michigan Economic Development Corporation. “As the state continues to recover from the COVID-19 outbreak, we are honored to recognize and celebrate these small businesses, which demonstrate the resilience, innovation and grit that sets Michigan apart.”
Companies nominated for the Michigan 50 Companies to Watch award must be second-stage companies, defined as having six to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants. Additionally, the companies must be privately held and headquartered in Michigan.
Judges from economic and entrepreneurship development organizations selected the 2020 winners. The judges evaluated the nominees’ demonstration of intent and capacity to grow based on the following:
- Employee or sales growth
- Exceptional entrepreneurial leadership
- Sustainable competitive advantage
- Other notable factors that showcase the company's success
Michigan Celebrates received 575 nominations for the Michigan 50 Companies to Watch award, which surpassed last year’s record of 425 nominations. In addition to a competitive landscape for this award, the businesses who are selected by the judges go through a rigorous due diligence process prior to the final decision.
Michigan Celebrates Small Business (MCSB) is a collaboration of trusted statewide founding organizations who offer resources for small businesses. Since 2005, Michigan Celebrates Small Business awards gala has placed a spotlight on how small businesses positively impact our communities and state. The MCSB organization is focused on supporting, promoting and celebrating small businesses in Michigan.
The Manufacturing Growth Alliance is the Managing Partner of Michigan Celebrates Small Business. Founding sponsors are the Michigan Economic Development Corporation, PNC Bank, AF Group, and Dynamic Edge, Inc.
Information about Michigan Celebrates Small Business can be found at www.MichiganCelebrates.org.