Despite being known for its strong financial infrastructure and historically favorable economy, Utah remains one of a handful of states without a Fortune 500 company.
An annual list published by Fortune magazine lists the country’s top 500 firms based on revenue. This year marks 10 years since a Utah company made the cut.
Since 1996, the earliest year for which data is available, Utah has intermittently had three companies that made the Fortune 500. American Stores, which owns grocery and drug chains like Albertson’s, was on the list early. Although it still has major operations in the state, automotive safety equipment giant Autoliv is now listed as being headquartered in Sweden. Huntsman Corp., a manufacturer and marketer of chemical products, moved its base from Salt Lake City to near Houston and then fell off the Fortune 500 after the 2023 listing.
Three Utah corporations are listed on Fortune’s top 1,000 revenue earners: Zions Bancorp at No. 665, SkyWest Airlines at 844 and Extra Space Storage at 861.
Several neighboring states make the list for 2025. Arizona leads bordering states with nine Fortune 500 companies, followed by Colorado (eight), Nevada (three) and Idaho (two). Of the other 13 states without a company on the list, only South Carolina has a bigger population than Utah.
As would be expected, the states with the most Fortune 500 companies are California (58), Texas (54) and New York (53).