2007 Fortune 500 HQ analysis for Houston and TexasA couple years ago, I looked at how Houston and Texas scored with the Fortune 500 headquarters. Well, the new 2007 list is out, and I thought it might be interesting to take a look again at how we're doing.
- We're still the #2 city behind NYC, with each of us gaining 2 more HQs. They moved from 43 to 45, and we moved from 20 to 22. Atlanta lost a couple from 14 to 12 (one of those was San Antonio-based SWB/AT&T buying Bell South), and Chicago picked up 1 from 10 to 11. They counted Halliburton in Houston this year, and they really should count it again in Houston next year, even if the CEO "offices" in Dubai.
- They don't have stats for metros, and I didn't try to add them up (who can guess which metro has all those small cities in CA?), but I don't think we would fall much from #2: behind Chicago and possibly the SF Bay Area. We only pick up 1 to 23, with Anadarko in The Woodlands, but Chicago and SF pick up a lot in their smaller suburban cities.
OK, a little bad news. I just did the count, and the greater DFW metro has 24 F500 HQs, edging us out by 1. If it makes you feel any better, we have 4 in the mega-biggie F100, while they only have 1 (Exxon in Irving, and by far the majority of their employees are in Houston).
- As a state, Texas has moved up in the world over the last two years (48->56), passing California (52->52) to become the #2 state just behind New York (54->57). It is quite possible we will pass New York in the near future, as we have 10 companies ranked between 500 and 600 ready to move up (including 4 between 501-520), while New York only has 6, and their highest one is 544.
Somehow a major editing error made it into their opening article, which included this sentence with some very wrong numbers:All in all, a great couple of years for Houston and Texas. We'll have to check the progress again in another couple of years...
"New York boasts the most Fortune 500 firms this year with 57 companies, while Texas and California took the No. 2 and 3 spots, with 45 and 22 headquarters respectively."
For some reason they knocked 11 off our count, but a whopping 30 off the CA count. I'm sure CA isn't happy. No idea how they let that slip through.
Update: I thought of another interesting cut on how well Texas and Houston are doing. Texas has 11% of the F500 with only 8% of the US population (1.4x), the Houston metro has 4.6% of the F500 with only 1.8% of the US population (2.5x), and the city of Houston has 4.4% of the F500 with only 0.7% of the US population (quite the impressive 6.3x).