New Jersey remains one of the preferred states for Fortune 500 companies, confirmed by the release of the 2019 list on Thursday. As reported by ROI-NJ, the state is home to 20 Fortune 500 companies, including four in the Top 100 — Johnson & Johnson, Prudential Financial, Merck and Honeywell.
CEO magazine said in 2018 that New Jersey’s then-21 Fortune 500 company headquarters had it tied with Pennsylvania for 7th most in the nation.
Unfortunately, two of those companies appear to be on the way out. As ROI puts it:
“Honeywell, which came in at No. 77, is listed as being headquartered in Morris Plains, but it is in the process of shifting its headquarters to Charlotte, North Carolina.
“Celgene, which came in at No. 207, is in the process of being acquired by Bristol-Myers Squibb, a move that is expected to be completed by the end of the year and will see the company’s headquarters in New York.
“Overall, New Jersey gained one company in the 500, as Zoetis, in Parsippany, came in at No. 487. But it also lost one company, as Conduent, in Florham Park, dropped to No. 517 from No. 466.”
The Fortune 500 is an annual list compiled and published by Fortune magazine that ranks 500 of the largest United States corporations by total revenue for their respective fiscal years.