Industries Economic Development

ITT Exelis becomes 10th Fairfax County-based company to make the Fortune 500

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Call it bragging, but Fairfax County does have a story to tell that’s the envy of other localities. The county’s Economic Development Authority released a list Wednesday, updating Fairfax’s strong showing on the 2012 list of Fortune 500 companies published by Fortune Magazine.

ITT Exelis, which spun off from ITT Corp. in 2011 and established its headquarters at Tysons Corner, was the 10th Fairfax company to crack the magazine’s list of the 500 largest publicly traded companies in the U.S.

According to the EDA, this means Fairfax County has more companies on the 2012 list than 34 states. Fairfax accounted for 50 percent of the 20 listed companies from the Washington, D.C., region and for 41.7 percent of the 24 companies from Virginia on this year’s list.

Fortune based its rankings on annual revenue in 2011. Here’s a list of the Fairfax County companies along with their main industry sectors:

No. 25     Freddie Mac, mortgage securities
No. 92     General Dynamics, defense and aviation
No. 104   Northrop Grumman, defense and security
No. 148   Capital One, financial services
No. 162   CSC, technology consulting and systems integration
No. 245   SAIC, engineering and research
No. 369   NII Holdings, mobile communications services
No. 422   ITT Exelis, defense and security
No. 439   Booz Allen Holding, technology consulting
No. 465   Gannett, publishing and television

“Thirty years ago no Fortune 500 companies were based here, but now 2 percent of the largest companies in the nation are headquartered in one place — Fairfax County,” Gerald L. Gordon, president and CEO of the Fairfax County Economic Development Authority, said in a statement. “This shows not just a rapid growth of the county as a headquarters location but the confidence that major corporations have in the county to provide the kind of business assets they need and the quality of life their employees want.”

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