This heatmap shows the number of publicly listed companies headquartered in each U.S. state, based on MarketCapWatch data. Darker blues mark states with higher corporate density, lighter blues indicate fewer listings.
- California dominates with 1,242 listed companies — more than the bottom 25 states combined.
- New York (612) and Texas (498) follow, reflecting their finance and energy hubs.
It’s kind of surprising to see Delaware so low. I thought many companies were headquartered in Delaware for their courts.
I was thinking the same thing. Companies heavily prefer to be incorporated in Delaware. Maybe they all just stay private?
Or, almost intentionally obfuscated…
Might be a different picture for private companies.
Was thinking the exact same. It must be that the public company at the top is usually in the local place but the private subsidiaries and other private entities that are in Delaware. The private company map would be much different I guess