Fairfax County is home to 11 Fortune 500 headquarters for first time; SAIC is newest local entry onto renowned list
For the first time, 11 Fairfax County-based companies in a broad range of industries hold spots on the Fortune 500 list of the largest publicly traded companies in the United States. Fortune magazine published the 2020 list on May 18.
Fairfax County has more Fortune 500 headquarters than 35 states and the District of Columbia, and is home to nearly two-thirds of the 17 companies based in the Washington, D.C., region. The others are in Arlington County, Va. (1), Washington, D.C. (2) and Montgomery County, Md. (3).
Fortune based its rankings on 2019 revenue. The new list includes these Fairfax County-based companies:
41. Freddie Mac, Tysons, financial services
83. General Dynamics, Reston, aerospace and defense
96. Northrop Grumman, Falls Church area, aerospace and defense
97. Capital One Financial, Tysons, financial services
155. DXC Technology, Tysons, information technology
289. Leidos Holdings, Reston, information technology
338. Hilton Worldwide Holdings, Tysons, hospitality
417. NVR, Reston, home construction
434. Beacon Roofing, Herndon, building materials
450. Booz Allen Hamilton, Tysons, management consulting
466. SAIC, Reston, information technology
Fairfax County had 10 companies on the 2019 list. It added its 11th headquarters thanks to SAIC, which entered the list at No. 466.
“Only a handful of communities can say they are home to 11 Fortune 500 companies. It sends a really strong message from the corporate world that this is a strong, stable, resilient location for headquarters operations,” said Victor Hoskins, president and CEO of the Fairfax County Economic Development Authority.
“The wide diversity of the industry sectors represented here also is striking, everything from our traditional strengths in IT, aerospace and defense to financial services, hospitality and construction, and that also speaks well for the stability and resiliency of our business base,” Hoskins said.
Other interesting information from the 2020 Fortune 500:
- 11 of the 22 Virginia Fortune 500 companies have headquarters in Fairfax County, including the four largest Virginia companies.
- With combined 2019 revenue of $251 billion, Fairfax County Fortune 500 companies account for 51 percent of the revenue of all Fortune 500 companies based in the Washington region, and 62 percent of the revenue of all Fortune 500 companies headquartered in Virginia.
- Six additional Fairfax County companies are on the Fortune 1000 list: Parsons, Maximus, Park Hotels and Resorts, PAE, TEGNA and ManTech.
The 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, Fairfax County’s largest business district, the FCEDA maintains business investment offices in six important global business centers: Bangalore/Mumbai, Berlin, London, Los Angeles, Seoul and Tel Aviv. Follow the FCEDA on Facebook, Instagram, LinkedIn, Twitter and YouTube.
The FCEDA is a member of the Northern Virginia Economic Development Alliance, which promotes and markets Northern Virginia outside the region and conducts activities and events to build the regional business community. Other members of NOVA EDA are the Alexandria Economic Development Partnership, Arlington County, City of Fairfax, City of Falls Church, Fauquier County, Loudoun County, City of Manassas, City of Manassas Park and the Prince William County Department of Economic Development.
May 18, 2020