17 Fairfax County-based Companies Land on Fortune 1000 List + Weekly Business News Digest

17 Fairfax County-based Companies Land on Fortune 1000 List

10 Fairfax County Companies Remain on the Fortune 500

Seventeen Fairfax County-headquartered companies landed on Fortune magazine’s 70th annual Fortune 1000 list, with 10 companies again making the Fortune 500. With the retaining of the 10 companies, Fairfax County is the headquarters location of 40 percent of Virginia’s 25 Fortune 500 companies – the most of any locality in the state. Fairfax County’s Fortune 500 companies combined revenue of $300 billion is 24 percent of the Virginia’s total Fortune 500 companies combined revenue of $1.3 trillion.

Eight of the ten Fairfax County-based companies increased their ranking on the list this year, and one remained on the same spot, with Freddie Mac, the top-ranked company in Virginia, jumping up nine spots to No. 36 on the Fortune 500, posting $108.05 billion in revenue for 2023.

Notably, Tysons-based Hilton, increased 42 spots to No. 389 on the Fortune 500. In addition, Booz Allen Hamilton (Tysons) jumped 30 spots; Leidos (Reston) went up 22; Beacon Roofing Supply (Herndon) increased 20; Capital One (Tysons) rose 15; Northrop Grumman (Falls Church area) went up four, and General Dynamics (Reston) went up one place. SAIC (Reston) stayed on the same spot on the list.

Here are the Fairfax County-based companies that made the 2024 Fortune 1000 list, in order of ranking:

Fairfax County Fortune 1000 Companies
36 Freddie Mac Tysons                             108,050.00
91 Capital One Financial Tysons                               49,484.00
104 General Dynamics Reston                               42,272.00
109 Northrop Grumman Falls Church                               39,290.00
266 Leidos Reston                               15,438.00
389 Hilton Worldwide Tysons                               10,235.00
406 NVR Reston                                  9,687.30
422 Booz Allen Hamilton Tysons                                  9,258.90
429 Beacon Roofing Supply Herndon                                  9,119.80
479 SAIC Reston                                  7,444.00
525 CACI Reston                                  6,702.50
608 Parsons Chantilly                                  5,442.70
653 Maximus Tysons                                  4,904.70
657 Navient Herndon                                  4,828.00
752 V2X Tysons                                  3,963.10
908 TEGNA Tysons                                  2,910.90
957 Park Hotels & Resorts Tysons                                  2,698.00
Source: Fortune Magazine

In addition, here are the Fortune 1000 companies located in additional Northern Virginia Economic Development Alliance jurisdictions:

NOVA EDA Fortune 1000 Companies (excluding Fairfax County)
2 Amazon Arlington Arlington                574,785.00
52 Boeing Arlington Arlington                   77,794.00
55 RTX Arlington Arlington                   68,920.00
294 DXC Technology Ashburn Loudoun                   14,430.00
319 AES Arlington Arlington                   12,668.00
694 Graham Holdings Arlington Arlington                     4,414.90
941 AvalonBay Communities Arlington Arlington                     2,767.90
Source: Fortune Magazine

Fairfax County is the choice location for national and global corporate headquarters of companies looking for unparalleled access to top talent, customers and decision makers to accelerate growth. Click here if you are looking to relocate or establish your next HQ at the doorsteps of the Nation’s Capital – we are here to support your next strategic move.

Notable Fairfax County-based Entrepreneurs to Participate at Wharton DC Innovation Summit

Three Fairfax County-based entrepreneurs will participate in a panel discussion focused on “Pathways to Entrepreneurial Success: Lessons Learned” during the 10th annual Wharton DC Innovation Summit on June 20, 2024. With Fairfax County Economic Development Authority (FCEDA) Director of National Business Investment John Gustavo Blair as moderator, the esteemed panelists will be:

Each of the speakers will discuss the unique pathways to their entrepreneurial success.

With FCEDA as a strategic partner, and presented by The Wharton Club of DC, the 10th annual Wharton DC Innovation Summit will be held at Valo Park Conference Center, 7950 Jones Branch Drive, Tysons.

The summit’s theme, “Create an Innovation Ecosystem: Maximize Your Results,” is based on the premise that “a rising tide raises all boats.” Amidst global challenges and shifting economic environments, the summit provides guidance on a path forward.

Click here to see the schedule of events throughout the day, view the list of speakers, and to register.

About the “Pathways to Success” Panel Participants

Blake Hall is the Co-Founder and CEO of ID.me, the next-generation digital identity network that simplifies how individuals can create a secure, private, and portable digital identity. More than 130 million members can use their ID.me Wallet to easily verify and use their identity across 30 states, 16 federal agencies, and over 600 organizations.

Kendall N. Holbrook is CEO of Dev Technology Group. Ms. Holbrook was promoted to be the top executive of Dev Technology in 2018. Prior to taking on the role of CEO, she was the Vice President of Business Development for the company for eight years. In her 27-year career, she has supported a variety of roles and has honed her skills by working hands-on with government stakeholders to identify IT solutions that help meet their mission requirements.

Steven Chen is an investor, serial entrepreneur, and mentor. Previously he served as the founder and CEO of an Intel Capital portfolio company, 20x exit; CTO and Mergers and Acquisitions for a $150 million public company, $300 million and SBIR contracts; and Chairman of the IEEE 1451.5 standard for Wireless Sensor Networks. Currently Mr. Chen is the founder of two startups, investor in more than 50 companies, and has board roles in more than five companies. His main interests include cyber security, wireless, IoT and data analytics.

Visit https://whartondcinnovation.com/ to learn more and to register.

The countdown begins:
Submit a pitch for the QWC Startup Pitch Competition by June 23!

In response to multiple requests for more time, the deadline to submit for QWC’s Startup Pitch Competition has been extended to Sunday, June 23 at 11:59 PM ET.

If you are an innovative startup or emerging company that is utilizing the convergence of quantum science and technology with adjacent technologies like AI, cybersecurity, optics, photonics, and cryogenics, we want to hear from you. This powerful synergy unlocks possibilities across numerous sectors and industries with innovative solutions that can commercialize and push the boundaries of what’s possible. If you lead a startup or emerging company, apply now.

Please spread the word with your connections to give them the opportunity to pitch to quantum investors and industry experts live on Monday, September 9 at Quantum World Congress 2024 in Tysons, Virginia. The Startup Pitch Competition provides a unique platform for these companies to gain global exposure and a chance to win $25,000.

Weekly Business News Digest 

Google “Cybersecurity”: Fairfax-headquartered George Mason University’s Antonin Scalia Law School‘s National Security Institute’s Cyber and Tech Center (CTC), located in Arlington, Va., and Howard University School of Business (HUSB) have been selected to receive $1 million in support from Google’s Cybersecurity Clinics Fund to establish the NSI CTC – HUSB Cybersecurity Clinic. The funding from Google.org, the company’s philanthropic arm, is part of a $25 million collaboration with the Consortium of Cybersecurity Clinics.  The clinic will be able to provide students critical hands-on practical experience from faculty, lecturers, and mentors, enabling them to provide direct cybersecurity assistance to public critical infrastructure organizations, including state and local governments, K-12 schools, utilities, public hospitals, and small businesses within the Washington, D.C., metropolitan area—all of which are facing a barrage of cybersecurity threats without the resources to address these threats. The region is not only a thriving tech hub, but it also houses numerous universities and other educational institutions that are training the next generation of cybersecurity practitioners. “Scalia Law is thrilled to be partnering with the Howard University School of Business and Google.org on this important effort to educate young leaders and drive positive cybersecurity outcomes in the local community,” said Ken Randall, Allison and Dorothy Rouse Dean and George Mason University Foundation Professor of Law at the Scalia Law School. George Mason News has more.

Sparrow in flight: Reston-based Scout Space, an in-space observation service provider focused on space security and comprehensive Space Domain Awareness (SDA), announced its optical payload dubbed “Sparrow,” launched aboard the SpaceX Transporter-10 mission in March 2024, has successfully completed commissioning and captured its first in-space calibration image, reported SatNow. This achievement represents the successful launch, commissioning, and operation of Scout’s second optical payload—underscoring the company’s commitment to enhancing space safety and improving multi-domain SDA capabilities. “We are pleased to report the successful deployment and operation of our second optical sensor payload in orbit, which captured its first imagery today,” said Philip Hover-Smoot, CEO of Scout Space. “With each successful launch, we move closer to achieving Scout’s vision of enhancing Space Domain Awareness through the proliferation of secure, platform-agnostic sensing solutions. This achievement underscores the dedication of both the Scout team and the Apex team, reflecting our shared commitment to advancing space technology.”

New point in mind: Herndon government contractor and Arlington Capital Partners portfolio company Tyto Athene announced another acquisition, signing an agreement to buy Tysons-based MindPoint Group, one of the largest cybersecurity companies in Greater Washington, according to Washington Business Journal. The deal would be Tyto Athene’s second for a local government contractor under CEO Dennis Kelly, who’s been in the role since March. In April Tyto announced it had acquired Greenbelt, Maryland, aerospace technology company Microtel, whose clients include NASA and other international space agencies. Tyto said its purchase of MindPoint, which it announced Tuesday, is expected to close at the end of June.

Leveraging innovation: Tysons-based Iridium won a long-term U.S. government contract that could be worth $100 million, reported Via Satellite. It has been tapped by the United States Space Force’s Space Systems Command’s Commercial Space Office (COMSO) for Enhanced Mobile Satellite Services (EMSS) capabilities and security sustainment services for a new five-year deal. “This new contract ensures our critical support to the EMSS Service Center well into the future. We have been working with Department of Defense EMSS Program Office for over 20 years, providing the sustainment and security enhancements necessary for our warfighters to execute their missions. The EMSS mission is a perfect example of the U.S. Space Force’s recently released Commercial Space Strategy, leveraging the innovation of Iridium and our valuable partner ecosystem,” Scott Scheimreif, executive vice president, government programs, Iridium, said in a statement.

Healthcare staffing investment: Tysons-based healthcare staffing firm ShiftMed has raised $47 million from unnamed investors, a month after it announced the acquisition of CareerStaff Unlimited, according to a listing on Crunchbase, reported citybiz. The startup, whose investors include Baltimore-based Audacious Capital, has so far $298.2 million since its founding in 2019.

Spine and Orthopedic Center: Reston Hospital Center has carved out a new space for spine and orthopedic surgery patients, one of a handful of projects the HCA Healthcare-owned facility has been advancing in a multiyear expansion to change the way it provides high-demand care, according to Washington Business Journal. The 231-bed hospital at 1850 Town Center Parkway started accepting patients in mid-April to its new Spine and Orthopedic Center.

Contract Wins

Booz Allen Hamilton (Tysons) secured a four-year, $49.6 million task order from the National Geospatial-Intelligence Agency to provide staffing support and technical operations services across mission-critical areas. ExecutiveBiz

FCEDA Hosted and Sponsored Events

June 11, 2024 — Digital Transformation: Shaping the Cities of 2030. Join the Northern Virginia Technology Council’s Digital Transformation Community of Interest for a lively panel discussion with industry thought leaders who will explore the future of smart cities in Northern Virginia. Click here for more information and to register.

June 20, 2024 — 10th Annual Wharton DC Innovation Summit. The Wharton Club of DC presents the 10th annual Wharton DC Innovation Summit. With FCEDA as a strategic partner, this event is set to unfold at the state-of-the-art Valo Park Conference Center in Tysons. All are welcome. Whether you attended Wharton or Penn, or elsewhere, everyone who wants to leverage the power of innovation should attend the event. The theme, Create an Innovation Ecosystem: Maximize Your Results, is based on the premise that “a rising tide raises all boats.” Amidst challenges like global economic upheaval, rising interest rates, and geopolitical strains, the summit stands as a beacon for collective advancement. Click here to find out more, see the list of speakers, and to register.

June 26, 2024 — How Northern Virginia’s Ties to Europe Boost and Sustain The Local Economy and Environment – And What More Can Be Done. Please join the NVRC and Johns Hopkins University’s Foreign Policy Institute for a webinar that will explore the dynamic of economic engagement between the U.S. and Europe and its effects on Virginia and Northern Virginia. Click here to register for this free webinar.

FCEDA is Here to Help Your Business Thrive

Fairfax County EDA is here to connect businesses of all kinds to resources and information. For direct assistance, email the FCEDA at info@fceda.org, or call 703-790-0600.