TEXAS, USA — With the recent addition of a well-known construction equipment company, there will now be 54 Fortune 500 companies headquartered in Texas, according to the global media organization FORTUNE.
The Fortune 500 is the latest ranking of companies by their annual revenue. Walmart topped the 2022 list.
Many corporations have been moving to Texas of late, including three of Elon Musk's companies.
Caterpillar Inc., which makes a variety of equipment including excavators, dozers and loaders, announced it will be moving its headquarters from Deerfield, Ill., to Irving, where it already has offices.
And many major oil and energy companies, such as ExxonMobil, have long been headquartered in Texas.
The governor’s office announced in May that Texas leads all other states in the number of "headquartered" Fortune 500 companies. On average in 2021, about every six days another company from somewhere else relocated a headquarters to Texas.
According to FORTUNE, here are the Fortune 500 companies headquartered in Texas, in order of revenue:
- Exxon Mobil (The Woodlands, previously Irving)
- McKesson (Irving)
- AT&T (Dallas)
- Phillips 66 (Houston)
- Valero Energy (San Antonio)
- Dell Technologies (Round Rock)
- Energy Transfer (Dallas)
- Tesla (Austin)
- Sysco (Houston)
- Caterpillar (coming to Irving)
- ConocoPhillips (Houston)
- Plains GP Holdings (Houston)
- Enterprise Products Partners (Houston)
- Oracle (Austin)
- USAA (San Antonio)
- American Airlines (Fort Worth)
- Hewlett Packard Enterprise (Houston)
- D.R. Horton (Arlington)
- CBRE Group (Dallas)
- NRG Energy (Houston)
- Occidental Petroleum (Houston)
- Baker Hughes (Houston)
- Builders FirstSource (Dallas)
- Tenet Healthcare (Dallas)
- Kimberly-Clark (Irving)
- Charles Schwab (Westlake)
- EOG Resources (Houston)
- HF Sinclair (Dallas)
- Texas Instruments (Dallas)
- Waste Management (Houston)
- Targa Resources (Houston)
- Kinder Morgan (Houston)
- Cheniere Energy (Houston)
- Southwest Airlines (Dallas)
- Halliburton (Houston)
- Pioneer Natural Resources (Irving)
- Fluour (Irving)
- AECOM (Irving)
- Jacobs Engineering Group (Dallas)
- Group 1 Automotive (Houston)
- Quanta Services (Houston)
- Vistra (Irving)
- Westlake (Houston)
- Yum China Holdings (Plano)
- Celanese (Irving)
- Huntsman (The Woodlands)
- CenterPoint Energy (Houston)
- APA (Houston)
- KBR (Houston)
- Diamondback Energy (Midland)
- Academy Sports and Outdoors (Katy)
- Commercial Metals (Irving)
- Enlink Midstream (Dallas)
- Southwestern Energy (Spring)
Many corporate executives have said in the past that Texas is more affordable and business friendly. Critics have complained that the program amounts to expensive corporate welfare and that it burdens ordinary taxpayers. But supporters of Chapter 313 insist it has been very beneficial to Texas, bringing a lot of jobs to the Lone Star State. They argue that the reduced taxes a company pays are better than no taxes paid if the company doesn’t come here in the first place.
Bloomberg charted how many applications there have been for this big money incentive each year. In the first five months of this year, the state has gotten at least 132 applications.