Twenty-year-old Under Armour – which received support in its infancy from the U.S. Small Business Administration – will receive the agency’s inaugural Hall of Champions award Wednesday from SBA Administrator Maria Contreras-Sweet.
The award – for firms that started with SBA help -- is being presented jointly to the company and Kevin Plank, its founder and CEO.
Mayor Stephanie Rawlings-Blake is scheduled to be at the event on Under Armour’s campus and participate in a discussion with Contreras-Sweet and Plank beforehand about entrepreneurship.
Under Armour was started by Plank as a small business with $17,000 in sales in the first year.
It’s now the the 8th fastest growing company in the U.S., a 24/7 Wall St. survey recently showed. Revenue jumped 116 percent in the last three years to $3.96 billion.
Last month, Rawlings-Blake committed the city to $660 million in public financing for roads, utilities and other infrastructure at Port Covington, site of Plank's $5.5 billion waterfront development.