Five companies receive Resilience Awards

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Five Virginia companies received awards Wednesday for achieving high growth in economically challenged areas in the commonwealth.

The companies were picked from a dozen finalists for the first Tayloe Murphy Resilience Awards presented by the Tayloe Murphy Center at the University of Virginia’s Darden School of Business.

The winners are:

Manufacturing/Agricultural: Morgan Lumber Co. Inc., Red Oak
Retail: ParknPool Corp., Lexington
Service: BandyWorks, Petersburg
Wholesale: Solid Stone Fabrics Inc., Martinsville
Chairman’s Award: Marstel-Day LLC, Fredericksburg

The awards include scholarships to attend Darden’s executive education programs.

Gregory B. Fairchild, executive director of the Tayloe Murphy Center, said 106 companies submitted entries in the awards competition. They had an annual average profit growth rate of nearly 189 percent and employment growth rate of more than 54 percent from 2005 through 2008.

To be eligible, companies had to be based in areas facing economic problems such as high unemployment, poverty or lack of access to larger markets.

Instead of moving their businesses elsewhere, the winners and the other finalists have been leaders in their communities and provided much-needed jobs, Fairchild said.

W. Tayloe Murphy Jr., a former state natural resources commissioner and member of the House of Delegates, chaired a five-member panel of judges. The chairman’s award is presented at the discretion of the chairman to a deserving company not selected as a winner in an industry category. Marstel-Day was picked this year for its contributions to environmental preservation.

The awards were presented in the Dome Room of the Rotunda at the University of Virginia in Charlottesville.

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