Fortune 500 companies in Cincinnati are down to five
The number of Fortune 500 companies in Greater Cincinnati is down to five — the lowest in more than a decade, according to the business magazine’s ... The number of Fortune 500 companies in Greater Cincinnati has dropped to five, the lowest in more than a decade. The region is expected to add a new Fortune 500 company next year after Boston-based General Electric completes its restructuring and bear the name of its remaining division: GE Aerospace. Revenue cuts to make the Fortune 500 list this year rose $800 million to $7.2 billion with Robert Half International taking last place.
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The number of Fortune 500 companies in Greater Cincinnati is down to five — the lowest in more than a decade, according to the business magazine’s latest ranking.
The latest Fortune list of the largest US companies is based on revenue for the most recent fiscal year on file with the government. Local companies:
• hook It was No. 24, with sales of $148.3 billion.
• Procter & Gamble It was No. 51, with sales of $80.2 billion.
• Western and Southern Financial Group It was No. 314, with $13.2 billion in revenue.
• Third third It was No. 411, with $9.4 billion in revenue.
• StripsInc., headquartered in Mason, was No. 473 with $7.9 billion in revenue.
The most recent list is half the number of Fortune 500 companies the region boasted of in 2013. In the past decade, the region has lost major companies headquartered here to acquisitions from outside the region.
The region is expected to add a new Fortune 500 company next year after Boston-based General Electric completes its restructuring. The company would then be headquartered in Evendale and bear the name of its remaining division: GE Aerospace.
Meanwhile, lower investment income at two local insurance companies appeared to prevent them from taking a $7.2 billion cut to the famous slate. In previous years, insurance companies in the region moved to listing due to portfolio changes.
American Financial Group dropped from 454th to 510th place on the Fortune 1000 list with revenues of $7 billion. The Fairfield-based Cincinnati Financial fell from No. 367 to No. 534 on the Fortune 1000 list with revenues of $6.6 billion.
Revenue cuts to make the Fortune 500 list this year rose $800 million to $7.2 billion with Menlo Park-based staffing firm Robert Half International taking last place.
Greater Cincinnati’s large presence has long been considered an economic asset, providing the region with tens of thousands of high-paying jobs and attracting strong talent in business.
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المواضيع: Cincinnati, Ohio