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5.9.06 Dallas-Fort Worth, May 9 – Research compiled by the North Texas Commission confirms that the Dallas/Fort Worth Metroplex has set a record high with FORTUNE 500 companies, reaching a new corporate count of 22. In July of 1955, FORTUNE magazine produced its first directory of biggest companies representing all industrial sectors, which became known as the FORTUNE 500. Up from 19 headquarters in the 2005 rankings, this historical record is attributed, in part, to the gain of four firms, all of which headquarter in Dallas: Atmos Energy, Blockbuster, Celanese, and Energy Transfer Partners. Their gain was Brinker International’s loss, dropping to spot number 504. The 22 corporate headquarters in Dallas/Fort Worth have helped position Texas as the number one state in the nation with the most FORTUNE 500 companies – another first in Texas’ history – with 56 headquarters, passing New York’s 55 and California’s 52. The FORTUNE 500 list recently released recognizes the following 22 D/FW corporations in ranking order: Exxon Mobil (1), AMR (105), Electronic Data Systems (108), J.C. Penney (118), Kimberly-Clark (140), D.R. Horton (162), Texas Instruments (167), Fluor (169), Burlington Northern Santa Fe (171), Centex (175), Dean Foods (216), TXU (228), Tenet Healthcare (236), Southwest Airlines (300), Commercial Metals (329), Energy Transfer Partners (347), Celanese (356), Blockbuster (366), RadioShack (423), Atmos Energy (430), Triad Hospitals (432), and Affiliated Computer Services (471). According to FORTUNE magazine, these corporations collectively generated over $565 billion in revenue in 2005. The North Texas Commission research department compiles data not available from FORTUNE magazine to determine and report regional rankings by number of headquarters and revenues. In compiling the rankings, the NTC determined that the Dallas-Fort Worth-Arlington Metropolitan Statistical Area (MSA) is now second only to the New York-Northern New Jersey-Long Island metro area, surpassing all other regions in the United States in revenue, and ranks fourth in the nation with the highest number of corporate headquarters, competing neck-to-neck with the top three metro areas of New York-Northern New Jersey-Long Island, Chicago-Naperville-Joliet, and Houston-Sugar Land-Baytown. According to Bernard L. Weinstein, director of the Center for Economic Development and Research and a professor of applied economics at the University of North Texas in Denton, the steady increase of corporate headquarters reflects the growing appeal of the D/FW region as an administrative center. “Our mid-continent location, diversified economy, great transportation networks, rapidly-expanding workforce, and moderate cost-of-living all serve as strong magnets drawing business to the Metroplex. I believe we’ll see even more corporate relocations and expansions in the years ahead.” On March 2 at DFW International Airport, Governor Rick Perry accepted the Site Selection Magazine’s Governor’s Cup Award for 2005, ranking Texas first among the 50 states with the Top 2005 Corporate and Industrial relocations and expansions. Adding to its economic accolades, the Lone Star State shines just as bright in annual employment growth numbers, data released by the Bureau of Labor Statistics on March 6. “It is no surprise that the North Texas Region stands tall in regional rankings,” says Dan S. Petty, president and CEO of the North Texas Commission. “With four new FORTUNE 500 corporations setting a record high for the D/FW area and job growth at a premium, it goes without saying that Texas is the place to live, work and set up shop.” Established in 1971, the North Texas Commission is a regional non-profit consortium of businesses, cities, counties, chambers of commerce, economic development entities and higher education institutions in the North Texas Region. The Commission is the one and only public-private regional organization committed to enhancing the overall economic vitality and quality of life of North Texas. NTC improves the economy, infrastructure and lifestyle of North Texas by leading and directing regionally cooperative initiatives to accomplish objectives in four primary areas: transportation, aviation, environment and long-range strategies. |
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