Hilton Worldwide and Leidos are newcomers to list; Fairfax has more companies on list than 30 states
Ten Fairfax County-based companies, in industries ranging from defense and technology consulting to financial services and hospitality, hold spots in Fortune magazine’s list of the 500 largest publicly traded companies in the United States. The 2014 Fortune 500 is available online.
The number of Fairfax County companies on the 2014 list is the same as the last two years. Two new entrants are Hilton Worldwide, the global hospitality firm, and technology consultant Leidos, which was formed when technology and engineering firm SAIC split into two companies in 2013. Two companies on the 2013 list, defense and aerospace firm Exelis and SAIC, fell off the Fortune 500 rankings but are part of the Fortune 1000 list along with Fairfax County-based homebuilder NVR and IT services provider ManTech International.
Fairfax County has more companies on the prestigious list than 30 states and has the same number as three states.
Fortune (@FortuneMagazine) based its rankings on annual revenue in 2013. Here are the Fairfax County companies on the list, their main industry sectors, and their location in the county:
32. Freddie Mac, mortgage securities, Tysons Corner
99. General Dynamics, defense and aviation, Falls Church
122. Northrop Grumman, defense and security, Falls Church
124. Capital One, financial services, Tysons Corner
185. CSC, technology consulting and systems integration, Falls Church
289. Hilton Worldwide, hospitality, Tysons Corner
442. Leidos, technology consulting, Reston
443. Booz Allen Holding, technology consulting, Tysons Corner
481. Gannett, publishing and television, Tysons Corner
495. NII Holdings, mobile communications services, Reston
“To be home to 10 Fortune 500 headquarters – 2 percent of the national total – is the best illustration of the confidence that major corporations have in the business climate of Fairfax County,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority (FCEDA). “Moreover, the diversity of the industry sectors represented is critical. While federal contracting remains a vital market for Fairfax County, it is important to ensure that we are not overly dependent on a single business sector.”
Other interesting notes about Fairfax County’s Fortune 500 companies:
- Fairfax County has more Fortune 500 headquarters than 30 states and the same number as three other states.
- The Fairfax County total accounts for 59 percent of the 17 listed companies from the Washington, D.C., region.
- Fairfax County companies account for 45 percent of the 22 companies from Virginia.
- Fairfax County is home to four of the five largest Fortune 500 companies headquartered in Virginia.
- Fairfax County’s Fortune 500 companies account for 47.5 percent of the revenues of all Fortune 500 companies based in the Washington region.Fairfax County companies had revenues of more than $208 billion in 2013, which was 61.7 percent of the revenue of all Fortune 500 companies headquartered in Virginia.
- Fairfax County companies had almost as much annual revenue as the combined revenue of all the Fortune 500 companies based in Maryland and Washington, D.C. – $208 billion compared to $214 billion.
- The revenue of the Fairfax County companies nearly equals the gross domestic product of Portugal, which is $212 billion according to the International Monetary Fund.
Time magazine called Fairfax County “one of the great economic success stories of our time.” Business growth helps Fairfax County fund the nation’s top-rated school system and other public services that contribute to the quality of life of residents. Fairfax County offers businesses a state-of-the-art telecommunications infrastructure, access to global markets through Washington Dulles International Airport and a well-educated workforce.
The award-winning Fairfax County Economic Development Authority promotes Fairfax County as a business and technology center. The FCEDA offers site location and business development assistance, and connections with county and state government agencies, to help companies locate and expand in Fairfax County. In addition to its headquarters in Tysons Corner, Fairfax County’s largest business district, the FCEDA maintains marketing offices in seven important global business centers: Bangalore, Munich, London, Los Angeles, Seoul and Tel Aviv. Follow @FairfaxEBird for FCEDA and Fairfax County business news.