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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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State has more than its share in Fortune 500

NINETEEN of the Fortune 500 companies from 2007 are headquartered in Virginia, placing the state in the Top 10 nationwide.

Virginia’s tally of 19 Fortune 500 companies placed the Old Dominion in a ninth-place tie with Minnesota. Fortune’s annual issue listing the 500 biggest U.S. companies by revenue was recently released.

Texas, with 58 Fortune 500 corporations headquartered, topped the list. Then came New York, California, Illinois, Ohio, Pennsylvania, New Jersey and Michigan.

Richmond made the list of the 19 U.S. cities with five or more Fortune 500 companies headquartered. Richmond had six on the 2007 list. (Two others have headquarters in suburban Richmond.) The only cities that had more were New York, Houston, Chicago, Dallas, Atlanta, St. Louis, Charlotte, Minneapolis and Philadelphia.

Six other cities also had six Fortune 500 companies: Cincinnati, Los Angeles, Milwaukee, Pittsburgh, San Francisco and Seattle.

As it did in 2006, Wal-Mart Stores had the most revenue of any U.S. company in 2007. The Arkansas-based retail giant brought in $378.8 billion in revenue last year.

Exxon Mobil was the most profitable U.S. company in 2007. The oil giant earned $40.6 billion in profits last year. That more than doubled the profits of any other U.S. company other than General Electric, which made $22.2 billion.

Here are Virginia’s 19 Fortune 500 companies, including their rank on the list, city in which they’re headquartered and 2007 revenue.

$43.1 billion: Freddie Mac, 54, McLean $38.1 billion: Altria Group, 61, Richmond $27.3 billion: General Dynamics, 87, Falls Church $19.0 billion: Capital One Financial, 130, McLean $15.8 billion: Dominion Resources, 161, Richmond $14.9 billion: Computer Sciences, 170, Falls Church $13.9 billion: AES, 183, Arlington, $12.4 billion: Circuit City Stores, 215, Richmond $11.9 billion: Smithfield Foods, 222, Smithfield $11.4 billion: Genworth Financial, 233, Richmond $9.4 billion: Norfolk Southern, 276, Norfolk $9.2 billion: SLM, 286, Reston $7.5 billion: Gannett, 332, McLean $7.5 billion: CarMax, 333, Richmond $6.9 billion: MeadWestvaco, 356, Glen Allen, $6.8 billion: Owens & Minor, 360, Mechanicsville $6.3 billion: Performance Food Group, 384, Richmond $5.2 billion: NVR, 464, Reston $4.8 billion: Advance Auto Parts, 476, Roanoke

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