DALLAS, June 11, 2018 /PRNewswire/ -- The commercial industry throughout the state of Texas has seen growing interest from globally recognized organizations among the world's leading markets. Tech and industrial sectors, hospitality, manufacturing and energy industries are among those growing their roots in the nation's second largest state that offers some of the best in vast land mass, talented workforce, affordability and business friendly regulations.
A unique environment where a collective group of diverse companies, populations and communities can come together to create opportunities and success at scale, the state has positioned itself in a way that has attracted organizations such as AT&T, Dell and Southwest Airlines.
Fortune's 64th annual report released late this May sees the state as owning the third largest sector nationwide for Fortune 500 Company headquarters. The businesses on this list are those leading the economy and operating at a rate that produces 2/3rds the United States GDP. With nearly $13 trillion in revenue combined, Fortune describes this elite group as the most important engine of both US and global economies.
Holding 48 of the 500 firms on Fortune's list, it is no surprise the overall Texas economy has continued to grow steadily each year in part from these companies that are each pulling in a minimum of $5.4 billion in revenues.
"The benefits that have come to the Texas area through this level of mass business operations has also commercially impacted other areas. Small business and startup communities, business infrastructure industries such as data centers as well as the migration of out of state and international employees coming for job opportunities," shares DFW-based entrepreneur Marcus Hiles, who has seen a growing demand in his rental properties from this commercial boom.
Capitalizing on not only 48 of these companies, Texas holds the number two highest generating organization under its umbrella. Energy giant ExxonMobile is headquartered in the state and has been helping Texas continue its lead in the oil industry.
By also gaining attention from other firms on the list, Texas has opportunity to outrank the other two state leaders in the years to come as companies such as Amazon - who operates as the number 8 largest Fortune 500 Company - vets the area as a potential location for its next headquarters.
Longtime standing as national leaders themselves, California came in at a close second with 54 Fortune 500 Company headquarters and New York leading the list with 58 in the state.
As the industries of these leading organizations evolve there will continue to be a shuffle in the states holding the most important businesses, as seen this year where New York's 2018 count included 4 new companies since last year's reports. Regardless if the state is in the top spot or top three, the future business climate of Texas is expected to continue its rise. Through their ability to beat out the competition with the key advantages that attracted 48 leading organizations thus far, industry interest across the nation will look to the state for new opportunities as its position in the economy continues to thrive.
Learn more about the network of Fortune 500 companies headquartered in Texas at marcushiles.net.
SOURCE Marcus Hiles