Houston now shares second place with Chicago as home to 27 Fortune 500 companies, according to the 2026 edition of the Fortune 500 list released this month. Only New York, with 62, ranks higher. The milestone underscores Houston’s accelerating pull as a corporate headquarters destination, driven by its business-friendly environment and deep energy-sector talent pool.
How Houston Gained Ground
Houston posted a net gain of one company on this year’s list. Devon Energy joined the Houston roster after completing its merger with Coterra Energy in May, with the combined company keeping the Devon name and the Houston headquarters. The merger created one of the largest independent oil and gas producers in the country, and the decision to base the combined entity in Houston rather than Oklahoma City reflects the city’s gravitational pull on energy-sector leadership.
Comfort Systems also crossed the Fortune 500 threshold this year after narrowly missing the list in 2025, benefiting from sustained demand for mechanical and electrical contracting services across commercial and industrial construction. The city’s only drop-off was Par Pacific, which fell from No. 474 to No. 520 — just outside the cutoff — as revenue growth among other companies pushed the threshold higher.
But the tie with Chicago understates Houston’s standing. Houston’s 27 Fortune 500 companies generated nearly twice the revenue of Chicago’s, highlighting the sheer scale and economic influence of the firms headquartered in the metro area.
Expand Energy Relocation to Push Houston Ahead
Later in 2026, Expand Energy (No. 362) is expected to complete its relocation from Oklahoma City to Spring, Texas, in northern Harris County. The move would give Houston 28 Fortune 500 companies and sole claim to the nation’s No. 2 metro ranking, ahead of Chicago. Expand’s relocation continues a trend that has been building since the start of the decade: six different Fortune 500 companies have now announced headquarters moves to Houston, with earlier relocations drawn from coastal states where the city’s lower costs and favorable business climate proved decisive. The recent Oklahoma City arrivals — Devon and Expand — signal that access to energy-sector talent, infrastructure, and innovation networks is now an equally powerful draw.
Population Growth Reinforces Corporate Pull
Corporate relocations coincide with rapid population growth. The City of Houston has added nearly 100,000 residents since the start of the decade, and suburban Fulshear ranks as the fastest-growing city in the United States during the same period. The expanding labor pool and consumer base reinforce the region’s appeal as both a business hub and a place to live, creating a virtuous cycle that civic leaders expect to continue through the decade.
