Two Otago companies will be part of the Deloitte New Zealand Fast 50 index, with less than 1% separating Palmerston-based Skevington Contracting and Queenstown-based South Pacific Fire Protection in the regional awards.
Skevington, which works in the goldmining and contracting business, edged out South Pacific by 0.9% to take the Otago and lower South Island fastest growing services business in the awards held last night. South Pacific provides fire service protection systems.
Deloitte Dunedin partner Mike Horne said those two companies, along with the other regional winners, proved business success stories were thriving in the region.
''These companies exemplify our great Kiwi No 8 wire mentality - they live and breathe innovation, challenging the norm, and have the determination and drive that's seen them achieve phenomenal year-on-year growth.''
A thriving community of fast-growing innovative companies was fundamentally important to the economy, he said.
The regional list was a combination of companies which had appeared regularly over a long period of time with other new ones who were showing potential for longevity.
Long-established heating company Escea was on the list along with Wanaka-based Mons Royale, which created versatile merino clothing, Mr Horne said.
This year, Deloitte introduced a sustained growth award for companies which had shown spectacular growth in previous years and were still growing but not at the same rate.
Those recognised were CrestClean and Gibbston Valley Wines.
The Fast 50 companies were ranked according to their revenue growth over the past three years. However, there was a rising star award which allowed newer companies to be recognised, he said.
Timely, which provided scheduling software for businesses in service industries, won the regional rising star award.
''This company's growth has been sublime and it will get to the Fast 50 next year for sure.''
Apart from Timely, there were no other IT companies in the award, giving the awards a different feel, Mr Horne said.
All of the companies from last night had earned the right to join other high-growth companies from around the country at the second annual Deloitte Festival of Fast Growth in November.
The festival would be where Skevington and South Pacific would find out where they ranked on the national index, he said.
