Texas passes NY on Fortune 500 list

[sonias]

AAS 4/21/08
Texas passes NY on Fortune 500 list

DALLAS — Texas is king of the hill when it comes to corporate headquarters.

The Lone Star State passed New York as home to the most big companies in the latest list compiled by Fortune magazine.

Texas now boasts 58 headquarters, three more than New York, the previous No. 1, and California, with 52.

Business experts say it's a matter of simple economics — Texas attracts companies with its low taxes, affordable land and large labor force.

"Cost is overwhelmingly the No. 1 driver," said Albert W. Niemi Jr., dean of the business school at Southern Methodist University, who wrote his doctoral thesis about companies leaving the Northeast for the Sun Belt 30 years ago.

Oh my god, something Texas can claim being number one, and it doesn't suck! :wow:

Of course a lot of that is driven by oil. :grr:

High oil prices helped land another Texas oil company, Houston-based ConocoPhillips, at No. 5 in the national rankings, according to the magazine. San Antonio-based AT&T Inc. jumped from No. 27 to 10th place.

Sonia

[tammywammy]

1. I think they said on the radio that 23 of those businesses are right here in the DFW area

;)