Skip to main content

Texas Leads Nation, Houston Leads Texas in Fortune 500 Companies

Published May 24, 2022 by A.J. Mistretta

downtown Houston

For the first time in more than a decade, Texas is home to the most Fortune 500 companies in the nation, and Houston is now home to the largest concentration of Fortune 500s in the Lone Star State thanks to several recent headquarters relocations. 

The 2022 Fortune 500 list ranks the largest corporations in the U.S. by revenue for the 2021 fiscal year. Twenty-four companies on this year’s list are headquartered in metro Houston, with 21 of those based within the city limits. Statewide, 53 companies made this year’s list. 

The 2022 list marks the first time that two Fortune 500 firms, NRG Energy and Hewlett Packard Enterprise (HPE), were counted in Houston's column. NRG announced in May 2021 that it would relocate its headquarters from Princeton, NJ to Houston. HPE completed its headquarters move from San Jose, Calif. to the Spring area earlier this year. 

ExxonMobil, which ranks No. 6 on the Fortune 500 list, announced earlier this year that it would move its corporate headquarters from the Dallas area to Houston. That move is not expected to be complete until 2023 and the company remains in the Dallas count in this year’s list. 

Among states with the largest concentration of Fortune 500 companies, New York fell to No. 2 on this year’s list with 51 companies after seven years at the top. California was No. 3 with 50 companies. 

A total of 97 Texas companies made the expanded Fortune 1000 list this year. Forty-three of those based in the Houston area. 

Below are the Houston-area Fortune 500 firms and their respective rankings. 

  • No. 29 Phillips 66
  • No. 70 Sysco Corp.
  • No. 77 ConocoPhillips
  • No. 88 Plains GP Holdings
  • No. 89 Enterprise Products Partners
  • No. 123 Hewlett Packard Enterprise
  • No. 133 NRG Energy
  • No. 135 Occidental Petroleum Corp.
  • No. 170 Baker Hughes
  • No. 193 EOG Resources
  • No. 203 Waste Management
  • No. 216 Targa Resources
  • No. 223 Kinder Morgan
  • No. 233 Cheniere Energy
  • No. 241 Halliburton Co.
  • No. 273 Group 1 Automotive
  • No. 285 Quanta Services
  • No. 320 Westlake
  • No. 410 Huntsman
  • No. 414 CenterPoint Energy
  • No. 431 APA
  • No. 460 KBR
  • No. 481 Academy Sports and Outdoors 
  • No. 486 Southwestern Energy

See the full Fortune 500 list

Related News

Economic Development

How Amazon's Strategic Procurement Drives Inclusive Growth

11/25/24
Amazon’s leadership in supplier diversity has positioned the corporation for success while driving inclusive economic growth. Kennedy Oates, Partnership Board Member and Vice President of Global Procurement at Amazon, shared insights and best practices at the Greater Houston Partnership’s One Houston Together Fall Chief Procurement Officers (CPO) Convening.  Oates discussed how Amazon has grown its supplier diversity efforts by ensuring the value proposition of advancing supplier diversity and inclusion throughout our supply chain is communicated at every level. According to Amazon’s 2023 Sustainability Report, the company’s global supplier diversity and inclusion (SD&I) program is estimated to have supported over 30,000 U.S. jobs and generated approximately $2.8 billion in wages, earned from Amazon’s certified U.S. tier 1 supplier diversity spend. In 2023, Amazon was inducted to the Billion Dollar Roundtable, a nonprofit organization comprised of U.S. corporations that each spend $1 billion or more annually on a tier 1 basis with diverse suppliers. These diverse-owned businesses include majority owners identifying as minorities, women, veterans, disabled, and LGBTQ.  Oates stated that achieving this milestone required a deliberate approach, built on a clear vision, a targeted strategy, and an empowered team dedicated to executing these goals. By embedding supplier diversity into Amazon’s core procurement practices, they’ve fostered a sustainable and inclusive growth model that supports the company’s goals and the success of diverse suppliers. Key Takeaways from CPO Convening Supplier Diversity as a Strategic Value Proposition Oates emphasized the importance of viewing supplier diversity as more than just an initiative—highlighting the long-term value diverse suppliers bring to a company and its surrounding communities. Through its global SD&I strategy, Amazon measures impact through jobs supported, wages earned, and economic output generated. “Given our reach and scale, Amazon has a greater responsibility.” – Kennedy Oates, VP of Global Procurement, Amazon Vision-Driven Goals with Clear Strategies For Amazon, supplier diversity goes beyond statements. Oates stressed the importance of crafting a well-defined vision, supported by actionable strategies to advance supplier diversity objectives. He also noted that internal teams should have collaborative discussions on supplier diversity across the entire business rather than in silos.   Partnering with Companies at Every Level “Every large company was once small.” – Kennedy Oates, VP of Global Procurement, Amazon Amazon is redefining procurement by challenging the perception that only large companies can serve large corporations. Its approach embraces partnerships with businesses of all sizes, embedding supplier diversity as a core element of its supply chain. This creates a positive ripple effect that brings opportunities to underrepresented companies. To learn more about the Partnership’s Supplier Diversity workstream, contact LaTanya Flix.
Read More
Digital Technology

California Startup Incubator Plug and Play to Expand in Sugar Land

11/25/24
Plug and Play, an acclaimed startup incubator and accelerator based in Silicon Valley, Calif., has announced plans for a new location in Sugar Land, focusing on solutions for the future of smart cities.   Plug and Play accelerated more than 2,700 startups globally in 2023, through work to connect entrepreneurs and startups with valuable resources to help their ideas succeed. The organization is three-pronged, with accelerator programs to help startups, a corporate innovation division for established companies, and venture capital to fund promising enterprises.   Representatives from the Sugar Land Office of Economic Development attended the announcement for the new location at Plug and Play’s November 2024 Silicon Valley Summit.   “We are excited to welcome Plug and Play to Sugar Land,” Mayor of Sugar Land Joe Zimmerman said. “This investment will help us connect with corporate contacts and experts in startups and businesses that would take us many years to reach on our own. It allows us to create a presence, attract investments and jobs to the city, and hopefully become a base of operations for some of these high-growth companies.”  The new location, to be located in Sugar Land Town Square, will officially launch in February or March 2025, with around 15 startups and 4 full-time employee equivalents. The approaches toward smart cities will include startups that focus on energy, health, transportation and mobility.  The Partnership’s trade missions to California in 2022 and 2023 included visits to Plug and Play’s headquarters, fostering discussion on potential for growth in Greater Houston. These visits and continued conversations helped build momentum that led to last week’s announcement for the investment in Sugar Land. “The Partnership is excited for the announcement of Plug and Play’s investment in the Houston region,” Greater Houston Partnership SVP of Economic Development Craig Rhodes said. “Houston’s innovation ecosystem seeks solutions in key industries of energy efficiency, life sciences, aerospace and transportation, and we are pleased to welcome Plug and Play to the Greater Houston area to accelerate these emerging technologies”  The new location underscores the region’s growing innovation ecosystem, seeing substantive growth not only in Houston proper with impactful incubators such as the Ion or Greentown Labs, but also around the region, with industry-specific accelerators like Halliburton Labs on the North Beltway and the Alexandria Center for Advanced Technology in The Woodlands.  For more on Houston’s innovation ecosystem, visit our Innovation and Startups page. 
Read More

Related Events

Airports

State of the Airports

Tickets and tables are now available! The Greater Houston Partnership invites you to the State of Airports on Tuesday, December 5, as Jim Szczesniak, Director of Aviation, outlines the next…

Learn More
Learn More
Executive Partners