Every locality has its own set of “Hometown Heroes” i.e. companies that are based locally that are well known and provide local jobs and services. By supporting local businesses, you’re supporting your community and increasing jobs for those in your city or state.
Legendary, investor Peter Lynch recommends investing in local companies that you know because you will know the local economy better than “Wall Street” will. Plus you might hear more about the business i.e. new contracts, expansion, lay-offs, etc than if you invest in businesses that are located far away. Therefore, if you’re looking for businesses to invest in, you may want to consider ones in your own backyard.
So for instance if you live in Washington State, you might consider investing in Washington businesses. Washington is considered a great place to start a business because of programs like Impact Washington, also there is a large pool of potential employees because of software giant Microsoft. Here are some other great Washington businesses you might consider.
Cray
Cray is a leader in supercomputing providing advanced systems for government entities as well as academics. On November 20, 2013, it won 10 awards at the prestigious HPCwire Awards including Best HPC Cluster Solution or Technology and Top 5 Vendors to Watch. On top of that, the company won a contract in November 2013 for $30 million for the University of Stuttgart in Germany. The contract will expand Cray’s XC30 supercomputer within the school’s High Performance Computer Center.
PACCAR
With headquarters in Bellevue, PACCAR manufactures trucks, including light, medium, and heavy-duty trucks. In the past, PACCAR has won awards including J.D. Power and Associates award in 2011 for Heavy Duty Truck Customer Satisfaction. In the third quarter of 2013, earnings were higher than expected because of higher truck deliveries and record sales of aftermarket parts.
Blucora
Blucora is a leading Internet company with three Internet services: InfoSpace, which provides online search and monetization solutions; Monoprices, a provider for self-branded consumer electronics, and TaxtACT, which provides tax preperation solutions for both consumers and professionals. Rated as a Fortune 100 Fastest Growing Companies of 2013, the company had a growth in Q3 2013 of 34 percent over Q3 2012.
Zulily
Based in Seattle, Zulily is a website that has flash sales on products ranging from clothes to household goods to toys. Opening for the public in November 2013, the Wall Street Journal that shares jumped 71 percent when they debuted. In the first nine months of 2013, revenue doubled to over $400 million. For those that would like to invest in Zulily, or one of the other companies listed here, you can find Fisher Investment’s addresses and driving directions online, where you can meet with an investment advisor who can get you started in investing with Washington companies.
Neah Power Systems
Working with the military as well as transportations and portable electronics application, Neah Power Systems is a developer of safe power solutions. It was a finalist at 2012 ZINO Green and 2010 WTIA and the winner of 2010 Best of What’s New from Popular Science. One of its newest products is BuzzBar, which enables off-the-grid recharging of mobile products. With products that scream innovation, it’s a company that’s likely to be around for a while.
Zillow
Providing renters and home buyers with information about prices and more, Seattle-based Zillow is a great help to many in the market to buy. Not only does it help its users, but Zillow was named among one of the best companies to work for according to Glassdoor 2014 Employees’ Choice Awards. Stock prices over the last year have steadily been increasing making it a great option for Washington residents that would like to invest in Washington companies.
TapImmune
For those interested in investing in science, TapImmune specializes in the development of vaccines for the treatment of infectious disease. In October 2013, TapImmune announced that they had developed a new, cost-effective immunotherapeutic vaccine expression and delivery system called PolyStart.
These are just some of the many companies in Washington state that Washington residents might consider. If you’re looking to help businesses grow, why not choose some in your own backyard? But before you buy be sure you do your homework on the company.
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Jane Miller is a freelance writer who loves to write about anything from tech to mommy stuff.