Best US Cities To Grow Your Multinational Company
But, what are the best US cities for international businesses? We list the top 10 below, based on key factors such as the support available to businesses. For example some cities waive corporate tax to appeal to companies.
We also considered how accessible a city is, by taking into account the number of ports and airports it has. Other data points included the size of its workforce. We’ve also noted the population of the city and number of Fortune 500 companies it currently hosts, listing several of the most prominent.
#10 - Seattle, Washington
Population: 755,078
No. of Fortune 500 companies: 10
Companies based there: Amazon, Costco Wholesale, Expedia Group
Seattle boasts a diversified economy that includes strong sectors such as aerospace, technology and life sciences. Companies have access to a skilled labour force, as the city’s workforce is highly educated, graduating from top establishments such as Washington university. Roughly 56% of its residents hold at least a bachelor's degree. Businesses can also take advantage of the support available. For instance, Washington State has no personal or corporate income tax, making it financially attractive for companies. It also encourages growth and innovation by allowing companies to reinvest their profits into their operations.
#9 - Greensboro, North Carolina
Population: 301,115
No. of Fortune 500 companies: 1
Companies based there: VF Corporation
Greensboro is centrally located in North Carolina with 50% of the US population within 650 miles, which allows for easy accessibility for logistics and distribution. The city’s infrastructure is robust as the city is served by Piedmont Triad International Airport and five major interstates, facilitating efficient transportation and connectivity. While just one Fortune 500 company is based in Greensboro, the Triad area where it is found is home to another, Hanesbrands, and North Carolina more broadly is home to several. North Carolina, including the city of Greensboro, offers one of the lowest corporate tax rates in the US at 2.5%. The state also offers a streamlined regulatory process that facilitates business operations, reducing bureaucratic hurdles.
#8 - Charlotte, North Carolina
Population: 923,164
No. of Fortune 500 companies: 9
Companies based there: Bank of America, Lowe’s, Albemarle
Charlotte is recognised as a major financial hub that hosts a number of Fortune 500 companies. It has a diverse economy that includes strong sectors in finance, healthcare, technology and manufacturing. Its emerging tech industry has garnered significant investments from major tech firms including Microsoft, which has helped drive its rapid expansion. This growth is expected to continue. Charlotte also offers a high quality of life balanced with a low cost of living compared with other major cities. This includes affordable housing and a variety of recreational and cultural amenities. The city has established transport options, including an international airport and public transit systems such as light rail, which makes commuting easier for employees.
#7 - Austin, Texas
Population: 984,567
No. of Fortune 500 companies: 3
Companies based there: Dell Technologies, Oracle, Tesla
Referred to as “Silicon Hills”, Austin is renowned for its vibrant startup culture. The city hosts over 900 Software as a Service (SaaS) companies and has been the recipient of venture capital investment totalling US$5bn in 2022 alone. This form of ecosystem fosters innovation and collaboration among entrepreneurs, and makes it easier for new businesses to connect with investors and mentors. The city has experienced remarkable economic growth, ranking as the second highest US metropolitan city for GDP growth from 2016 to 2021, with a 31.2% rise. This increase is driven by a diverse range of industries, particularly technology, which attracts skilled workers and enhances job opportunities.
#6 - Miami, Florida
Population: 449,514
No. of Fortune 500 companies: 1
Companies based there: Lennar
Often referred to as the "Gateway to the Americas", Miami provides unparalleled access to markets in both North and South America. With a major port and one of the busiest airports, it facilitates international trade, making it an ideal base for companies involved in import and export activities. Florida's lack of a state income tax, combined with low corporate and sales tax rates, creates a favourable economic climate for companies. Additionally, Miami specifically offers incentives such as opportunity zones and free trade zones, which can significantly lower operational costs and enhance profitability. While Lennar is the only Fortune 500 company to be based in the city of Miami, more can be found in the Miami metropolitan area.
#5 - Dallas, Texas
Population: 254,715
No. of Fortune 500 companies: 11
Companies based there: AT&T, Texas Instruments, CBRE Group
As of the latest Fortune 500 list, there are 11 Fortune 500 companies headquartered in Dallas. However, when considering the broader Dallas-Fort Worth metroplex, the number more than doubles to 24. Texas is one of the few states without a corporate income tax, which can lead to significant savings for businesses compared to states with high tax rates. This favourable tax climate is complemented by various business incentives, such as the Texas Enterprise Fund, which supports job creation and capital investment. The Dallas-Fort Worth (DFW) region has seen significant population growth, leading to an expanded labour force of nearly 4.2 million residents. This diverse talent pool is beneficial for companies across multiple sectors. Compared to other major cities like Los Angeles and New York, Dallas offers a lower cost of living, making it more affordable for both businesses and employees. This affordability extends to real estate, which is attractive for companies looking to minimise overhead costs.
#4 - Irving, Texas
Population: 254,715
No. of Fortune 500 companies: 8
Companies based there: Builders FirstSource, Caterpillar, Kimberly-Clark Corporation
Irving has established itself as a major corporate hub, earning it the nickname "headquarters of headquarters". The city is situated between Dallas and Fort Worth, providing easy access to a large metropolitan area and its resources. This central location is ideal for companies looking to tap into diverse markets and talent pools. Being minutes away from one of the busiest airports in the US facilitates efficient travel and logistics for businesses operating on a national or global scale. The city hosts over 8,500 companies, including eight Fortune 500 headquarters, which fosters a dynamic economic environment conducive to innovation and collaboration. The Irving Economic Development Partnership provides tailored solutions for business retention and expansion, ensuring that companies have the resources they need to thrive. Various programmes are also available to assist businesses in hiring and training employees, which is crucial for maintaining competitive advantage in today’s market.
#3 - Plano, Texas
Population: 2.3m
No. of Fortune 500 companies: 3
Companies based there: Yum China Holdings, Toyota Motor North America, Keurig Dr Pepper
Plano is home to over 10,000 companies, including major corporations such as EDS and Raytheon. This concentration of businesses creates a vibrant job market and opportunities for collaboration and networking. In 2023, 20 Plano businesses made the Inc. 5000 list of the fastest-growing private companies in America, showcasing the city's dynamic entrepreneurial ecosystem. Plano boasts a high quality of life with excellent schools, amenities and recreational spaces. The city is recognised for its attractive climate and urban-suburban blend, making it a favourite for employees and their families. Compared to major cities such as New York and San Francisco, Plano also offers competitive housing prices and a lower cost of living, allowing businesses to attract talent without the burden of high living expenses.
#2 - Pittsburgh, Pennsylvania
Population: 302,898
No. of Fortune 500 companies: 9
Companies based there: PNC Financial Services, WESCO International, EQT
Pittsburgh's economy is characterised by its diversification, which includes key sectors such as technology, healthcare, education and advanced manufacturing. This economic robustness ensures stability and growth opportunities for small businesses. The city's GDP has shown consistent increases and it boasts a low unemployment rate, reflecting its economic vitality. The presence of prestigious institutions like Carnegie Mellon University and the University of Pittsburgh contributes significantly to the local talent pool. These universities produce a steady stream of highly educated graduates in fields such as robotics, computer science, and health technologies. Pittsburgh has been recognised as the "smartest city" in America, which enhances its appeal for businesses seeking skilled employees. The city has transformed from its industrial roots into a hub of innovation, particularly in technology and healthcare.
#1 - Houston, Texas
Population: 2.3 million
No. of Fortune 500 companies: 24
Companies based there: ExxonMobil, Phillips 66, Sysco
Home to a population of 2.3m and 24 Fortune 500 companies, Houston takes pole position.
As with the rest of the state of Texas, it does not impose corporate or personal income taxes, allowing business owners to retain more earnings and invest in growth. Houston boasts a rapidly diversifying economy with strong sectors in healthcare, technology, manufacturing and energy. This diversification helps stabilise the business environment and provides multiple avenues for growth. Recent studies have highlighted Houston as one of the top cities for business growth in the US with an average business growth rate of 26.7%. As a major transportation hub with two major airports and one of the largest ports in America, Houston provides excellent connectivity for businesses looking to expand their reach both nationally and internationally.
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