The fastest-growing black-owned company in the United States last year was a Bethesda-based information systems firm whose sales rose 153 percent in 1984, according to a list of the top 100 black-owned companies compiled by Black Enterprise magazine.
The Maxima Corp. rose from No. 100 on the magazine's list last year to No. 38, the magazine said. The third fastest-growing firm on the list was G & M Oil Co. Inc. of Baltimore, whose sales increased by 80.7 percent.
The top-ranked black-owned firm in the Washington area was G & M, ranked seventh, up from 16th the previous year, with sales of $56.4 million. It was followed closely at No. 10, up from 14th, by Systems and Applied Sciences Corp. of Vienna. The computer and electronic data systems company had sales last year of $47.4 million.
The Vienna firm also was the third-largest employer on the list, with 900 workers.
According to the magazine, companies listed must be at least 51 percent black-owned and must manufacture or own the product that they sell or provide industrial or consumer services. Other service providers, such as real estate agencies, brokerage houses, accountants, lawyers, architects and consultants, are not eligible, the magazine said.
Community Foods Inc. of Baltimore, a food store with $29 million in sales, was 20th on the list, up from 26th. Closely following The Maxima Corp. was The Jackson Oil Co. of Baltimore. That petroleum sales company dropped from ninth place last year to 39th this year. Parks Sausage Co. of Baltimore dropped from 35th to 45th place.
Other local companies on the list were Joe McLaughlin Oldsmobile Inc. of Capitol Heights, 64th, down from 52nd; and International Business Services Inc. of Washington, 73rd, down from 68th.
Of top savings and loans, Independence Federal Savings Bank of Washington was ranked third, followed by Advance Federal Savings and Loan Association of Baltimore, which was 10th on the list. Ideal Savings and Loan Association of Baltimore was No. 32.
Industrial Bank of Washington was the sixth-ranked bank, followed by United National Bank of Washington, eighth; The Harbor Bank of Maryland in Baltimore, 40th, and Universal Bank in Lanham, 45th.