Jun 8, 2023 - Business

The Triangle nets two companies on the Fortune 500 list

Zachery Eanes

Photo: Paul Weaver/SOPA Images/LightRocket via Getty Images

Two Triangle companies have made Fortune Magazine's annual Fortune 500 list, which ranks American businesses by revenue.

Driving the news: Durham clinical research company IQVIA placed at 286 and Raleigh auto parts retailer Advanced Auto came in at 368.

Raleigh building materials company Martin Marietta barely fell short of making the list, with a ranking of 551.

Why it matters: Economic developers have long wanted the Triangle to boost the number of Fortune 500 companies based here due to the high-paying jobs, prestige and community impact they bring.

That's why local leaders recruited Advance's headquarters to Raleigh with economic incentives in 2018.

Worth noting: The Triangle has consistently landed large satellite offices for some of the country's biggest companies, including Apple (No. 4), Google (8), MetLife (54) and IBM (65).

Zoom out: Charlotte leads the state with the most Fortune 500 companies at eight. Its largest companies include Bank of America, Nucor and Honeywell.

Burlington-based LabCorp, which has a large presence in Durham, ranked 278 on the list.

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The Triangle nets two companies on the Fortune 500 list

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