North Texas is a corporate hub
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AT&T's move to the 'burbs will leave Dallas with just eight headquarters for Fortune 500 companies.
Why it matters: AT&T is the only Dallas-based company landing in the Top 50 of the famed Fortune list, which ranks U.S. companies by revenue.
- North Texas has just one other in the Top 50: Irving-based McKesson.
State of play: North Texas has been a hub for corporate relocations in recent years. Major companies have either moved their headquarters into the region or established regional offices.
- Toyota opened its North American headquarters in 2017 in Plano.
- Caterpillar, a Fortune 500 company, moved its headquarters to Irving from Illinois in 2022.
- Goldman Sachs is building an 800,000-square-foot campus in Dallas, which is home to its largest U.S. workforce outside of New York City.
The big picture: Texas is home to 20 companies on the Global 500, which ranks the largest companies worldwide.
- North Texas has seven: McKesson (11), AT&T (78), Dallas-based Energy Transfer (151), Caterpillar (213), Fort Worth-based American Airlines (268), Arlington-based D.R. Horton (432), and Dallas-based CBRE Group (452).
Zoom in: Dallas currently has 21 companies in the Fortune 1000, the most in the region.
- Plano, by comparison, currently has three.
- But, the city is a hub for regional headquarters.
By the numbers: JPMorgan Chase employs more than 11,200 people at its Plano regional headquarters, per city documents.
- Capital One Finance has more than 5,600 employees in Plano.
- Toyota employs nearly 5,000 people at its North American campus.
- AT&T employs 2,500 people at a customer service center in Plano.