Tenn. Firms in Good Company on Fortune 500
Published Apr 07, 2004
Tennessee gets top billing on the April 5 issue of Fortune magazine; inside, a special section touts the state’s virtues.
Businesses considering Tennessee as their home base will become neighbors of industry giants like FedEx and Dollar General, which are proud to call the Volunteer State home. The Tennessee-based corporations are two of seven that were granted revered spots in Fortune magazine’s 50th anniversary edition Fortune 500 list.
“Tennessee has always been a great place to start and grow a business,” says Frederick Smith, FedEx founder and CEO, in Fortune magazine’s April 5 issue.
“Its central location is a big distribution plus for FedEx. Its ability to attract millions of dollars in capital investment has contributed to a healthy economy.
“And its business-friendly government, low taxes and low cost of living have made it a magnet for both companies and employees.”
Listed as No. 82 in the Fortune 500, FedEx Corp. is headquartered in Memphis and utilizes more than 225,000 employees and contractors. FedEx offers worldwide transportation, e-commerce, document management and supply chain solutions to customers and businesses in 215 countries.
HCA Inc. – the Hospital Corporation of America – holds the No. 85 spot and is based in Nashville. The world’s leading provider of health-care services, HCA employs more than 190,000 people at 191 hospitals and 82 surgery centers in the United States, England and Switzerland.
UnumProvident, No. 87 in the Fortune 500, is the largest provider of disability income protection in the United States. The Chattanooga-based company and its 13,000 employees worldwide offer financial assistance to customers burdened by unexpected challenges and disabilities.
With its headquarters in Nashville, Caremark Inc. ranks as No. 221. Caremark is one of the largest pharmaceutical services companies in the U.S. and one of the country’s leading prescription benefits managers. Ninety million prescriptions are filled by Caremark each year for its 20 million plan participants.
At No. 281, Dollar General Corp. is a retailer of consumer basic goods like paper products, cleaning supplies and health and beauty aids. Headquartered in the Nashville area, Dollar General employs more than 57,000 people in more than 6,700 stores nationwide.
Kingsport is home to Eastman Chemical Co., ranking No. 317. An employer of more than 15,800 people, Eastman is the world’s largest supplier of polyester plastics for packaging. The company manufactures and markets more than 1,200 chemicals, fibers and plastics products that are used in thousands of consumer goods.
AutoZone Inc., the nation’s leading auto parts retailer, operates out of Memphis and is No. 331 in the Fortune 500. AutoZone’s 48,000-person workforce maintains 3,299 stores in the United States and 55 AutoZone stores in Mexico.
In addition to recognizing seven Tennessee businesses, Fortune’s 50th anniversary edition included a 26-page special section called “On the Tennessee Fast Track,” which highlighted the benefits of living and working in Tennessee and included advertisements from 22 Tennessee businesses.
“It’s an honor and privilege to have Tennessee so prominently featured in one of the most read and respected business publications in the world,” says Gov. Phil Bredesen. “I have no doubt that this spotlight on Tennessee will draw national and international attention to our strong business climate and resources, which will serve to open even more doors to job growth for Tennessee.”
Story by Jessica C. Kurtz
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