Corporate America is navigating an economy marked by stubbornly high unemployment, and lackluster GDP growth. With large companies reluctant to hire, and small businesses struggling to survive, it may fall to companies in the middle to pick up the slack.
Meet Tom McGee. He's the guru on middle markets, and believes this sector has the potential to lead the economy.
"It's important for people to understand how big [the Middle Market] is, and how pervasively it impacts the US economy," says McGee, national managing partner of consulting firm Deloitte.
It's McGee's business to know what's going on in this space, because over half of Deloitte's US clients are middle-market companies.
Generally defined as businesses with revenue between $50 million and $1 billion, the middle market covers a huge swath of corporate America — accounting for 40 percent of GDP, and 40 percent of the country's workforce.
New research on the space, recently released by Deloitte, is garnering a lot of attention among American business leaders. Pinpointing what middle-market companies need to grow will be the major focus at "2011 National Middle Market Summit," held at Ohio State University on October 6.