Fairfax has more companies on 2012 list than 34 states, and is in top 10 of U.S. counties with most ranked companies
Fairfax County, Virginia USA, May 16, 2012 – ITT Exelis, which spun off from ITT Corporation in 2011 and established its headquarters in the Tysons Corner area of Fairfax County, becomes the 10th Fairfax County company to crack Fortune magazine’s list of the 500 largest publicly traded companies in the United States. The 2012 list is in the May 21 edition of Fortune and is available online.
Fairfax County has more companies on the prestigious list than 34 states. Fairfax also is in the top 10 counties with the most ranked headquarters.
Fortune based its rankings on annual revenue in 2011. Here are the Fairfax County companies on the list and their main industry sectors:
25. Freddie Mac, mortgage securities
92. General Dynamics, defense and aviation
104. Northrop Grumman, defense and security
148. Capital One, financial services
162. CSC, technology consulting and systems integration
245. SAIC, engineering and research
369. NII Holdings, mobile communications services
422. ITT Exelis, defense and security
439. Booz Allen Holding, technology consulting
465. Gannett, publishing and television
In addition, Exxon Mobil, which maintains its refining, retailing and marketing headquarters in Fairfax County, tops the 2012 list.
“Thirty years ago no Fortune 500 companies were based here, but now 2 percent of the largest companies in the nation are headquartered in one place – Fairfax County,” said Gerald L. Gordon, Ph.D., president and CEO of the Fairfax County Economic Development Authority. “This shows not just a rapid growth of the county as a headquarters location but the confidence that major corporations have in the county to provide the kind of business assets they need and the quality of life their employees want.”
Other interesting notes about Fairfax County’s Fortune 500 companies:
• The Fairfax County total accounts for 50 percent of the 20 listed companies from the Washington, D.C., region.
• The Fairfax County companies account for 41.7 percent of the 24 companies from Virginia on this year’s list.
• The Fairfax County companies had revenues of nearly $218 billion in 2011, which was 61.3 percent of the revenue of all Fortune 500 companies headquartered in Virginia.
• Fairfax County’s Fortune 500 companies accounted for 45.3 percent of the revenues of all Fortune 500 companies based in the Washington region.
• The Fairfax County companies had more than twice the combined revenue of the Fortune 500 companies based in Maryland – $218 billion compared to $95 billion.
• The Fairfax County companies had 36 percent more combined revenue than the Fortune 500 companies based in Washington, D.C. – $218 billion compared to $160 billion.
• The revenue of the Fairfax County companies roughly equaled the gross domestic product of Ireland, according to the International Monetary Fund.
Time magazine called Fairfax County, just outside Washington, D.C., “one of the great economic success stories of our time.” Business growth helps Fairfax County fund the nation’s top-rated school system and library, park, public safety and human 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 one of the world’s best business centers. 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 six important global business centers: Bangalore, London, Los Angeles, Munich, Seoul and Tel Aviv.
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Alan A. Fogg
Vice President, Communications
Fairfax County (Virginia USA) Economic Development Authority
Offices in Tysons Corner, Bangalore, London, Los Angeles, Munich, Seoul and Tel Aviv
Visit www.FairfaxCountyEDA.org and subscribe to the E-Bird for Fairfax County business and economic development news.