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Texas Firms Dominate Fortune's 'Fastest Growing Companies' List

Texas Firms Dominate Fortune's 'Fastest Growing Companies' List

Texas firms dominate the latest list of Fortune Magazine's 100 fastest growing companies in the United States, 1200 WOAI news reports.

 

  21 of the 100 firms are headquartered in the Lone Star State, far more than any other state.  California, the state Texans love to hate, is second with 10 firms.  New York State has three.

 

  Three of the 100 Fastest Growing Companies in the country are head quartered in metro San Antonio.  New Braunfels based Rush Enterprises ranks 27th, Rackspace of San Antonio is 96, and San Antonio's largest corporation, Valero Energy, is the 30th fastest growing company in the country.

 

  "If you look at what's happening in the economy nationwide, the economy is still recovering from the downturn, but the energy sector has been very very strong," said Valero Executive Director of Communications Bill Day.

 

  Most of the Texas firms in the 100 are in the energy industry, exploiting the booming Eagle Ford oil field south of San Antonio and other emerging oil fields across the state.

 

  Day says the booming energy sector has enabled Texas to grow at an amazing rate since the end of the Recession.

 

  "You don't have to travel too far out of Texas to see some of the starker impacts of the economic downturn," he said.

 

  It is also another feather in the cap of Valero, and it's respected CEO Bill Klesse.  V

 

  "We were recognized earlier this year as being number nine on the Fortune 500, that's the 500 biggest companies in the U.S.," he said.

 

  In fact, Valero is the second largest company on the list of the 100 fastest growing companies.  Only Apple is larger.  It is easy to be listed as a fast growing company when your assets are small, but for a mature company with $137 billion in assets is truly exceptional.

 

 

 

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