Fortune 500 2024 By Metro Area(MSA)

[DCReid]

Originally Posted by edale

Macy's is the classic example of an HQ that was really meaningless, though. Cincinnati was the official HQ, sure, but all of the C-Suite, creatives, etc. were based out of NYC. I think maybe some HR, accounting, and back office type of operations were in Cincy. When they moved the HQ, it wasn't a big deal to the economy because there were minimal jobs there to begin with, and Macy's wasn't exactly a pillar of the community when it came to investing in local institutions and what not.

Quite a different scenario than if P&G or Kroger was to leave the city. The departure of either of those giants would devastate Cincinnati. Those companies have giant local workforces, including many very high-income earners that in turn support local causes. Plus, both companies prop up scores of other businesses, so there's a multiplier effect. I don't believe Macy's did much of anything for Cincy other than have a couple hundred jobs, if that. Hell, having the HQ downtown wasn't even enough for them to keep their downtown store open! Housing is probably a more productive use for the Macy's HQ building compared to how the company was using it, tbh.

That's because Macy's merged with Federated stores in 1994, and moved its HQs to Cincy where Federated was based. But Macys was founded in NYC and its strongest base was the NYC metro, so it seems that much of the HQ staff stayed there. (all from Wiki). Like you say, HQs really matter if they employ thousands and leave or wither away if the company becomes irrelevant, like Kodak in Rochester has. Sure, the HQs can be bragging rights, but the number of high income employees they have is probably more important, especially for a small or mid-size metro area. I read a few years ago that Neeham, Wisconsin felt devastated when Kimberly Clark moved its HQs to Irving TX in the 1980s but a few years later employed more in Neeham than when it left, even though the CEOs and senior staff were no longer in Neeham.

[Steely Dan]

^ Neenah, WI.

not Neeham.

It's one of the cities of the Neenah, Menasha, Appleton, Kaukauna metro area along the Fox River at the northern end of Lake Winnebago.

[BG918]

Originally Posted by Centropolis

Omaha punches crazy above its weight per its population. I'm there a lot of for work and the expansion of its western suburbs is surreal...the plains are very rolling unlike the prairies (and rise in elevation towards the west from the Missouri River valley) so you can see downtown Omaha much further west than a lot of other midwestern cities which is interesting. They also have at least one proper commercial skyscraper under construction right now downtown.

One of the few office skyscrapers under construction anywhere in the U.S. right now outside of NYC. Let that sink in for a moment..

[craigs]

Originally Posted by BG918

One of the few office skyscrapers under construction anywhere in the U.S. right now outside of NYC. Let that sink in for a moment..

Los Angeles also has an office skyscraper under construction (Century City Center, 563' / 37 floors). It will house the headquarters of the Creative Artists Agency.

[ChiSoxRox]

Once the new Mutual of Omaha HQ is built someone needs to go to Neale Woods (north edge of Omaha) and get an updated skyline view:

[CVG]

Originally Posted by jmecklenborg

I just looked it up and somehow the entire state of Kentucky is now down to just a single Fortune 500 company.

2 - Humana and BrightSpring Health which was a Private company that just went Public this year and made the list (barely). Will potentially add a 3rd next year as Lexington based Tempur Sealy is in the process of acquiring Mattress Firm and the combined company should have enough to make it.

Unfortunately Northern Kentucky used to be reasonably well represented with Omnicare, Ashland, and General Cable over the years but all have gone private, been acquired and basically left town over the years. NKY isnt exactly struggling, but was always nice to see one or two companies showing up every year when the Fortune 500 came out.

[iheartthed]

Originally Posted by dimondpark

Please check your MSA to verify. I was scrolling in the interactive map and counted that way----

Fortune 500 2024 By Metro Area(MSA)
55 New York
31 Chicago
23 San Francisco
22 Houston
21 Dallas
20 San Jose
19 Washington DC
17 Atlanta
15 Boston
15 Minneapolis
12 Seattle
11 Miami
11 Philadelphia
10 Denver
10 Phoenix
9 Bridgeport
9 Los Angeles
8 Charlotte
8 Richmond
7 Cincinnati
7 Detroit
7 Pittsburgh
6 Cleveland
6 Milwaukee
6 St Louis
5 Columbus
5 Nashville
5 Providence
5 Tampa
4 Hartford
4 Omaha
3 Austin
3 Fayetteville, AR
3 Indianapolis
3 Memphis
3 Oklahoma City
3 Raleigh
3 San Antonio
3 San Diego
2 Birmingham
2 Boise
2 Des Moines
2 Las Vegas
2 Louisville
2 Tulsa
2 Virginia Beach


https://fortune.com/ranking/fortune500/2024/

Just noticed that Metro Detroit has 9 F500s, not 7:

General Motors (Detroit)
Ally Financial (Detroit)
DTE Energy (Detroit)
Ford (Dearborn)
Lear (Southfield)
Masco (Livonia)
Penske (Bloomfield Hills)
BorgWarner (Auburn Hills)
Autoliv (Auburn Hills)

Rocket Companies, the city of Detroit's largest private employer, apparently fell out of the Fortune 500 this year.

[meh]

St. Louis has been fluctuating around 10 U.S. Fortune 500s since 1985. Recently we lost Express Scripts (purchased by Cigna) and Monsanto (acquired by Bayer). Both are still headquartered in St. Louis, but their parent companies are not. A couple of our 500s have recently slipped into the 1000 as well (e.g., Post Holdings sits at 504). As of 2020 we had 8. This does appear to be a 40-year low for us.

However, we also have Bunge Global (#194 on the Global Fortune 500 list last year, but can't find ranking for this year) which is incorporated in Geneva but headquartered in St. Louis.

And, of course, Anheuser-Busch InBev (#241 on the Global Fortune 500) was acquired by InBev (headquartered in Belgium) in 2008 but still maintains its North American headquarters in St. Louis.

If we extend to private companies, Enterprise and World Wide Technology are both on Fortune's list of top 100 private companies.




https://www.stltoday.com/news/local/column/peabody-falls-out-of-fortune-500-leaving-8-st-louis-companies-on-list/article_cec0aa6b-8dc6-5228-8fd7-b0e7c0940af9.html

St. Louis' current Fortune 1000 companies:



https://greaterstlinc.com/news/list-...anies-grows-17

[DCReid]

Originally Posted by dimondpark

Please check your MSA to verify. I was scrolling in the interactive map and counted that way----

Fortune 500 2024 By Metro Area(MSA)
55 New York
31 Chicago
23 San Francisco
22 Houston
21 Dallas
20 San Jose
19 Washington DC
17 Atlanta
15 Boston
15 Minneapolis
12 Seattle
11 Miami
11 Philadelphia
10 Denver
10 Phoenix
9 Bridgeport
9 Los Angeles
8 Charlotte
8 Richmond
7 Cincinnati
7 Detroit
7 Pittsburgh
6 Cleveland
6 Milwaukee
6 St Louis
5 Columbus
5 Nashville
5 Providence
5 Tampa
4 Hartford
4 Omaha
3 Austin
3 Fayetteville, AR
3 Indianapolis
3 Memphis
3 Oklahoma City
3 Raleigh
3 San Antonio
3 San Diego
2 Birmingham
2 Boise
2 Des Moines
2 Las Vegas
2 Louisville
2 Tulsa
2 Virginia Beach


https://fortune.com/ranking/fortune500/2024/

It would be interesting to see a list from 10, 20, 30 and 40 ago to see how it has changed. I think Pittsburgh and Cleveland were high on the list, and maybe other St Louis, but now Minneapolis is high in the midwest. Likewise for the Southern cities ascendence, although I suspect Dallas may have been fairly high back then. I actually don't think DC was very high up until about 20 years ago when some of the defense companies merged and started relocating or establishing DC as the HQ, but maybe I am wrong here. I wonder how big Detroit was in HQs, of course it had the Big 3 autos and Kmart was a separate company, but I am not sure what other HQs except for a bank if they were counted then. And San Jose came out of nowhere due to the tech boom...I am 99.9% confident NYC and Chicago have always been #1 and #2 since at least 1950 and don't think LA ever made to the #3 even as it passed Chicago metro in population. Did LA ever make it to the top 5?

[ChiSoxRox]

Originally Posted by DCReid

It would be interesting to see a list from 10, 20, 30 and 40 ago to see how it has changed. I think Pittsburgh and Cleveland were high on the list, and maybe other St Louis, but now Minneapolis is high in the midwest. Likewise for the Southern cities ascendence, although I suspect Dallas may have been fairly high back then. I actually don't think DC was very high up until about 20 years ago when some of the defense companies merged and started relocating or establishing DC as the HQ, but maybe I am wrong here. I wonder how big Detroit was in HQs, of course it had the Big 3 autos and Kmart was a separate company, but I am not sure what other HQs except for a bank if they were counted then. And San Jose came out of nowhere due to the tech boom...I am 99.9% confident NYC and Chicago have always been #1 and #2 since at least 1950 and don't think LA ever made to the #3 even as it passed Chicago metro in population. Did LA ever make it to the top 5?

If anyone has the time, CNN Money has archived lists. The link is the 1984 list.

Scanning that 1984 list, I see several LA companies in the top 100 alone: Atlantic Richfield, Occidental, Getty, Unocal, Lockheed. A reminder that Los Angeles was once a major oil player.

[BlueDot]

Don’t know why people say St Louis is down on its luck having 6 Fortune 500 companies is nothing to sneeze at.

[iheartthed]

Originally Posted by ChiSoxRox

If anyone has the time, CNN Money has archived lists. The link is the 1984 list.

Scanning that 1984 list, I see several LA companies in the top 100 alone: Atlantic Richfield, Occidental, Getty, Unocal, Lockheed. A reminder that Los Angeles was once a major oil player.

Took quite a while to put together, but I was able to match the 1984 Fortune 500 list to their locations at the time. I think many of us will find it shocking that Toledo, Ohio, was in the top 20 metros by count of Fortune 500s in 1984. Also, the Northeast and Great Lakes sates completely dominated the U.S. economy in the mid-80s. 343 of the 500 companies were located in either the Northeast or Great Lakes states.


Count of Fortune 500 companies in 1984 by metro area

1. New York: 86
2. Chicago: 48
3. Bridgeport-Stamford, CT: 23
4. Los Angeles: 17
5. Philadelphia: 17
6. Houston: 16
7. Boston: 15
8. Cleveland: 13
9. Detroit: 13
10. Dallas: 12
11. St. Louis: 12
12. Minneapols-St. Paul: 11
13. Milwaukee: 10
14. San Francisco: 10
15. Pittsburgh: 8
16. San Jose: 8
17. Atlanta: 7
18. Cincinnati: 7
19. Toledo: 6
20. Richmond: 5
21. Akron: 4
22. Baltimore: 4
23. Charlotte: 4
24. Columbus, OH: 4
25. Portland: 4
26. Allentown, PA: 3
27. Canton, OH: 3
28. Dayton, OH: 3
29. Elkhart, IN: 3
30. Hartford: 3
31. Miami: 3
32. New Haven: 3
33. Rochester, NY: 3
34. San Diego: 3
35. Seattle: 3
36. Trenton: 3
37. Ann Arbor, MI: 2
38. Charleston, WV: 2
39. Denver: 2
40. Findlay, OH: 2
41. Harrisburg: 2
42. Indianapolis: 2
43. La Crosse, WI: 2
44. Nashua: 2
45. Neenah: 2
46. New Orleans: 2
47. Oklahoma City: 2
48. Omaha: 2
49. Phoenix: 2
50. San Antonio: 2
51. Savannah: 2
52. Spokane: 2
53. Tampa: 2
54. Tulsa: 2
55. Washington, DC: 2
56. Albany, NY: 1
57. Augusta, GA: 1
58. Austin, TX: 1
59. Austin, MN: 1
60. Batesville, IN: 1
61. Battle Creek, MI: 1
62. Benton Harbor, MI: 1
63. Birmingham, AL: 1
64. Boulder, CO: 1
65. Brenham, TX: 1
66. Brockway, PA: 1
67. Buchanan Township, MI: 1
68. Calhoun, GA: 1
69. Colorado Springs: 1
70. Columbus, GA: 1
71. Columbus, IN: 1
72. Corning, NY: 1
73. Council Bluffs, IA: 1
74. Decatur, IL: 1
75. Des Moines: 1
76. El Dorado, AR: 1
77. Erie, PA: 1
78. Exeter, NH: 1
79. Fayetteville, AR: 1
80. Fort Wayne, IN: 1
81. Fremont, MI: 1
82. Greeley, CO: 1
83. Green Bay: 1
84. Greensboro, NC: 1
85. Hampton Roads: 1
86. Hartsville: 1
87. Hebbronville: 1
88. Honolulu: 1
89. Jacksonville: 1
90. Kalamazoo: 1
91. Kansas City: 1
92. LaGrange, GA: 1
93. Lancaster, PA: 1
94. Lousiville: 1
95. Melbourne, FL: 1
96. Midland, MI: 1
97. Mildand, MI: 1
98. Muskegon, MI: 1
99. Nashville: 1
100. New Haven, CT: 1
101. Newton: 1
102. Oil City: 1
103. Orlando: 1
104. Peoria: 1
105. Portsmouth, NH: 1
106. Providence: 1
107. Reading, PA: 1
108. Riverside, CA: 1
109. Rockford: 1
110. Rome, NY: 1
111. Grantsburg, WI: 1
112. Springfield, MO: 1
113. Syracuse: 1
114. Thomasville: 1
115. Troy, NY: 1
116. Wichita: 1
117. Wisconsin Rapids: 1
118. Wooster, OH: 1
119. Youngstown, OH: 1

Count of 1984 Fortune 500 companies by state

1. New York: 69
2. Illinois: 52
3. Ohio: 44
4. California: 39
5. Texas: 33
6. Connecticut: 30
7. Pennsylvania: 30
8. New Jersey: 29
9. Michigan: 23
10. Wisconsin: 17
11. Massachusetts: 15
12. Missouri: 14
13. Georgia: 13
14. Minnesota: 12
15. Florida: 8
16. Indiana: 8
17. Virginia: 7
18. Washington: 5
19. Colorado: 5
20. Delaware: 4
21. North Carolina: 4
22. Oklahoma: 4
23. Maryland: 4
24. Oregon: 4
25. New Hampshire: 4
26. South Carolina: 3
27. Iowa: 3
28. Kentucky: 2
29. Nebraska: 2
30. Arkansas: 2
31. Louisiana: 2
32. Arizona: 2
33. Rhode Island: 1
34. Hawaii: 1
35. West Virginia: 1
36. DC: 1
37. Alabama: 1
38. Tennessee: 1
39. Kansas: 1

Count of 1984 Fortune 500 companies by geographical region

1. Northeast: 187
2. Great Lakes: 156
3. West: 56
4. Southwest: 33
5. Midwest: 24
6. Southeast: 44

[Crawford]

DC went from 2 to 19. Wow.

And Connecticut (almost entirely Fairfield County) was still the archetypical suburban office park HQ location. By 1984 huge numbers of HQ had moved from Manhattan to Fairfield. Since then, those HQ have largely dispersed, and Fairfield has become a finance/hedge fund economy moreso than F500.

[Quixote]

Originally Posted by BG918

One of the few office skyscrapers under construction anywhere in the U.S. right now outside of NYC. Let that sink in for a moment..

Office skyscrapers are a waste of space and one of the big reasons why American urbanism has never been on par with its counterparts in developed Europe and Asia. Block after block of monolithic, big-footprint buildings with lobbies that take up the entire ground-floor level are terrible for livability. That actually goes for most skyscrapers in general because they consolidate what usually could be 3-5+ buildings with different architectural styles and smaller ground-floor commercial spaces that small, mom-and-pop businesses could afford to rent.

[iheartthed]

Originally Posted by Crawford

DC went from 2 to 19. Wow.

And Connecticut (almost entirely Fairfield County) was still the archetypical suburban office park HQ location. By 1984 huge numbers of HQ had moved from Manhattan to Fairfield. Since then, those HQ have largely dispersed, and Fairfield has become a finance/hedge fund economy moreso than F500.

Yeah, and one of those two companies in 1984 was the Washington Post (the other Fairchild Industries).

[ColDayMan]

Locally, the interesting thing about that 1984 list is that Toledo only lost 2 F500s from then to now. As we can see, many cities gained/lost proportionally a lot more or less. Also, Pennsylvania having less F500s than I thought it would in 1984 stands out to me. Not that being #7 is a slouch but I thought it'd be at least behind Ohio/above Texas.

And wow at the fall of Wisconsin with those numbers.

[The North One]

Originally Posted by iheartthed

Just noticed that Metro Detroit has 9 F500s, not 7:

General Motors (Detroit)
Ally Financial (Detroit)
DTE Energy (Detroit)
Ford (Dearborn)
Lear (Southfield)
Masco (Livonia)
Penske (Bloomfield Hills)
BorgWarner (Auburn Hills)
Autoliv (Auburn Hills)

Rocket Companies, the city of Detroit's largest private employer, apparently fell out of the Fortune 500 this year.

There's also the half HQ with Huntington where the bigger part of the business is managed. But official address is in Columbus.

[iheartthed]

Originally Posted by iheartthed

Just noticed that Metro Detroit has 9 F500s, not 7:

General Motors (Detroit)
Ally Financial (Detroit)
DTE Energy (Detroit)
Ford (Dearborn)
Lear (Southfield)
Masco (Livonia)
Penske (Bloomfield Hills)
BorgWarner (Auburn Hills)
Autoliv (Auburn Hills)

Rocket Companies, the city of Detroit's largest private employer, apparently fell out of the Fortune 500 this year.

Here's the 1984 breakdown for Metro Detroit:

General Motors (Detroit)
Ford Motor (Dearborn)
Chrysler (Highland Park)
American Motors (Southfield)
Freuhauf (Detroit)
Masco (Taylor)
Ex-Cell-O (Troy)
Federal-Mogul (Southfield)
Thorn Apple Valley (Southfield)
Collins & Aikman (Troy)
Michigan Milk Prod. Assoc. (Novi)
Guardian Industries (Novi)

In a slightly unexpected twist, the city of Detroit has more Fortune 500 companies in 2024 than it did in 1984. In 1984 only 2 of the 13 F500s in Metro Detroit were headquartered in the city of Detroit. Southfield led the Detroit area in 1984 with 4 HQs, but only has one F500 as of 2024.

[ColDayMan]

Originally Posted by The North One

There's also the half HQ with Huntington where the bigger part of the business is managed. But official address is in Columbus.

That's not even remotely true. Columbus, the headquarters, has 10,000 employees in the metro and is the retail/mortgage/auto/credit card home. Detroit only has 1,000 (including the new building) and only houses the commercial banking division. Which, BTW, is common for banks to have different divisions in different cities. PNC Bank, for example, has their Mortgage division based in Dayton, their Consumer division in Cleveland, their REO/Credit Card based in Chicagoland, their Customer Service in Kalamazoo, and of course, all the rest in Pittsburgh.

[The North One]

Originally Posted by ColDayMan

That's not even remotely true. Columbus, the headquarters, has 10,000 employees in the metro and is the retail/mortgage/auto/credit card home. Detroit only has 1,000 (including the new building) and only houses the commercial banking division. Which, BTW, is common for banks to have different divisions in different cities. PNC Bank, for example, has their Mortgage division based in Dayton, their Consumer division in Cleveland, their REO/Credit Card based in Chicagoland, their Customer Service in Kalamazoo, and of course, all the rest in Pittsburgh.

It's true. It was part of the terms of the TCF merger. Half of the board meetings happen in Detroit with much of the combined business housed there, not just the commercial. It's not a division.

Columbus will remain the headquarters for the holding company and the consumer bank, which will represent about 40% of the combined company's business. Detroit will house the other 60% of the $117 billion in the merger's total loans. It will host every other board of directors meeting.

https://www.detroitnews.com/story/bu...rs/6534986002/