Texas leads nation for most Fortune 500 companies

by Lindsey Wells

Texas is home to more Fortune 500 companies than any other state in the U.S., according to the 2022 Fortune 500 list. 

The Lone Star State ranked No. 1 on the list with 53 Fortune 500 company headquarters. New York came in second place with 51, followed by California with 50.

Additionally, Houston and Dallas are in the top five municipalities in the nation for Fortune 500 companies, with 21 and 11, respectively. 

“Texas is the economic engine of the nation, and I am proud to announce that we continue leading the country now with the most Fortune 500 corporate headquarters,” said Gov. Greg Abbott in a statement. “Thanks to our unmatched business environment, with no corporate or personal income taxes, a highly skilled and diverse workforce, easy access to global markets, and reasonable regulatory climate, Texas has more businesses relocating and expanding here in our state than ever before.” 

Having so many diverse Fortune 500 companies headquartered in Texas is an important indication of the strength and durability of the state’s economy, said Robert Allen, president and CEO of the Texas Economic Development Corporation, based in Austin.

“CEOs tell us that they relocated to or expanded their business in Texas because of the exceptional business climate and the level of diversification of our industry sectors, which has made a significant impact on their ability to be competitive in domestic and global markets,” Allen said. “The presence of these 53 Fortune 500 companies in Texas shows that Texas has a lot to offer both big and small businesses. And, in turn, they have much to offer Texas.”

The annual Fortune 500 list is based on the revenue from the 2021 fiscal year. The companies on this list are spread out over 232 cities in 37 states. Together, the 500 corporations on this year’s list generated a record $16.1 trillion in revenue and $1.8 trillion in profits.

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