May 22, 2009 in City
In brief: Kauffman & Associates among fastest growing companies
Kauffman & Associates Inc., of Spokane, was ranked 11th on a list of the fastest growing inner-city companies in America, compiled by the Initiative for a Competitive Inner City.
The 2009 Inner City 100 list was released Wednesday.
Founded in 1990 by JoAnn Kauffman, a member of the Nez Perce tribe, Kauffman & Associates provides consulting services to federal, state and local governments and the private sector in the areas of communications, research and evaluation, management support and Web-based solutions.
The company had annual revenues of $8.6 million in 2008 with a growth rate of 29 percent over the previous year. The company forecasts a growth rate of 18 percent this year. It employs 73 people at its headquarters, S. 165 Howard St., and in a second office in Maryland.
This is the fourth consecutive year Kauffman & Associates has made the list, moving from 33rd in 2006 to 30th in 2007 and 27th in 2008.
From staff reports
Wheat mill gains daily capacity
One of Archer Daniels Midland’s wheat mills in the Spokane area is part of an expansion by the company to boost national flour milling capacity.
The agricultural processor said its plant at 2301 E. Trent Ave. will grow from 10,500 hundredweight daily capacity to 12,500 hundredweight. A hundredweight is 100 pounds.
Also gaining increased capacity are ADM mills in Minneapolis and Los Angeles, the company said in a press release.
The Trent mill produces hard wheat flour sold to bakeries for bread. The company has two other local mills, on East Sprague Avenue and in Cheney.
Rates dip on 30-year loans
Rates on 30-year mortgages inched downward this week, remaining below 5 percent for the 10th consecutive week and just above record lows.
Mortgage finance giant Freddie Mac said Thursday that average rates on 30-year fixed-rate mortgages dipped slightly to 4.82 percent this week, down from an average of 4.86 percent last week.
Low rates have sparked a surge in refinancing activity. The Mortgage Bankers Association said Wednesday its index of application volume climbed 2.3 percent last week from a week earlier. Applications to refinance existing loans made up nearly 75 percent of all applications.
The average rate on a 15-year fixed-rate mortgage fell to 4.50 percent this week from 4.52 percent last week, according to Freddie Mac.