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These 5 U.S. states are home to almost half the Fortune 500

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These 5 U.S. states are home to almost half the Fortune 500

220 Fortune 500 firms are located in just a handful of states

By
Rocio Fabbro
We may earn a commission from links on this page.
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Start Slideshow
New York
New York City.
Photo: Alexander Spatari (Getty Images)

Fortune 500 companies, the biggest firms in the U.S. by revenue, play a significant role in the U.S. economy. They comprise two-thirds of U.S. GDP — a combined $18.8 trillion in revenues and $43 trillion in market value (as of March 28). They also employ about 31 million people around the globe, according to Fortune.

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All of the wealth and jobs created by these firms is not evenly distributed across the U.S., however. In fact, just five states house 220 of the Fortune 500 companies. Click through to see which states those are — and just how many companies call them home.

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5. Ohio

5. Ohio

Cleveland
Cleveland.
Photo: Thanasis (Getty Images)

Ohio has the fifth-most Fortune 500 companies of all 50 U.S. states, with 27. Major insurance companies like Progressive, retailers such as Kroger, and even energy companies, including Marathon Petroleum, reside in the state.

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4. Illinois

4. Illinois

Chicago.
Chicago.
Photo: Thanasis (Getty Images)

With 32 Fortune 500 companies, Illinois has the fourth-highest count. State Farm, Deere, and Walgreens are all among the major companies based in the state.

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Tied for 2. Texas

Tied for 2. Texas

Dallas
Dallas.
Photo: Thorpeland Photography (Getty Images)

Texas is tied for second place with 52 Fortune 500 companies. In recent years, Texas has drawn a wide array of businesses thanks to its warmer climate and friendly tax environment. As a part of this shift, major firms including Tesla, HP, and Oracle now call Texas home.

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Tied for 2. New York

Tied for 2. New York

New York
New York City.
Photo: Francesco Riccardo Iacomino (Getty Images)

Tied for second place is New York, also with 52 Fortune 500 companies. The banking capital of the country, international giants such as Goldman Sachs, JPMorgan Chase, and Citigroup are all based in New York. Other major companies headquartered in the state include Pepsi, Pfizer, and Estée Lauder.

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1. California

1. California

San Jose
San Jose, California.
Photo: Steve Proehl (Getty Images)

California leads the country in terms of Fortune 500 companies, with 57 of them headquartered within its borders. From tech giants Apple, Meta, Nvidia, and Google parent Alphabet, to PayPal and Airbnb, California is home to some of the largest and most influential companies in the U.S.

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