Innovation

Atlas Executive Consulting of North Charleston and Frampton Construction Co. of Ladson have been named the fastest-growing companies in South Carolina by SC Biz News and its partners.

Hundreds of business leaders and well-wishers honored 40 of the fastest-growing small and large companies in South Carolina during an event Thursday night at the DoubleTree hotel in Columbia.

Each year, SC Biz News recognizes the fastest-growing 20 largest and 20 smallest companies in the state with the Roaring 20s awards.

To be eligible for the Roaring 20s, companies must have a physical presence in South Carolina and be a for-profit entity or a nonprofit organization, but not a government entity or a charity.

Winners are chosen and ranked according to growth and revenue. Company size is determined by gross revenue — small, $10 million or less; large, more than $10 million. Small companies must have had revenue of at least $500,000 each year for three years.

A formula that awards points based on dollar and percentage increases in statewide revenue is used to level the playing field between smaller and larger companies within the two categories.