Last call for nominees

Fast Track 50 applications must be received by June 26

Time is running out for anyone who wants to win a 2020 Lake-Geauga Fast Track 50 award but has yet to submit a formal application.

In fact, June 26 is the deadline to enter the competition that salutes the region’s most successful businesses and outstanding community organizations and leaders.

Typically, Fast Track 50 accolades are presented during an annual dinner and awards ceremony held in early November at Wingate by Wyndham LaMalfa in Mentor. But that longtime tradition was derailed this year because of health and safety risks posed by novel coronavirus.

Although the in-person, large-group celebration has been canceled in 2020, the Fast Track 50 Board of Trustees still plans honor award winners through an alternative program. An online event that can be attended remotely is one idea being considered by the board.

Hoping to draw a large pool of nominees for 2020 awards, the deadline for Fast Track 50 nominations was extended several weeks, until June 26.

Here’s a description of the honors that can be secured in this year’s competition:

• Fast Track 50 Award: The 50 winners will be based on a weighted average of 80 percent sales growth and 20 percent employment growth from 2015 through 2019.

To be eligible for the honor, companies must be based in Lake or Geauga counties, be organized as a for-profit business, and must have a sales profit for 2015 of at least $225,000.

To more fairly compare larger and smaller companies, the Fast Track 50 is divided into Established and Emerging categories.

For 2020, Established businesses must report revenue of at least $4 million in 2015, the baseline year for all evaluations.

Emerging businesses are required to have 2015 sales of between $225,000 and $4 million. There are 25 businesses on each lineup of winners.

• COVID-19 Community Service Award: In response to the novel coronavirus pandemic, some individuals and businesses have taken extraordinary steps to support the community. The Fast Track 50 board wants to recognize these efforts.

For this award, trustees are asking businesses or individuals to share what specific steps they have taken to help the community during this challenging time.

Examples could include coordinating donation campaigns for nonprofit organizations or health care systems; supporting employees and their families; or other endeavors aimed at protecting the health and safety of the community during COVID-19.

• Nonprofit Award — Organizations seeking this honor must describe how they have demonstrated dedication to their missions in Lake or Geauga counties by explaining how they have created meaningful and measurable benefits in the community.

In addition, nominees are required to provide examples of outstanding community services and innovative programming and/or delivery of services.

Questions about the Lake-Geauga Fast Track 50 may be addressed to Gretchen Skok-DiSanto at gskok-disanto@lakelandcc.edu or 440-525-7444.

The Fast Track 50 is cosponsored by the Benjamin F. Edwards & Co. office in Mentor; Erie Bank; Gino’s Awards; Lakeland Community College; The NewsHerald; Marcum LLP; and Geauga Growth Partnership Inc.