[cnxvideo id=”625449″ placement=”ros”]Going public is often regarded as the final step in a private company’s growth. While a public offering streamlines fund-raising activities and offers many other advantages, many owners prefer to keep control of their companies.
24/7 Wall St. reviewed data from company data reviewer PrivCo to identify the largest company in each state. Based on revenue, these companies range in size from Minnesota-based Cargill to Wyoming’s Bloedorn Lumber.
Going public confers some important benefits to large companies, including increased visibility, which can lead to greater earnings. For this reason, if public companies were considered for this list, the vast majority of the largest companies in each state would be public. Texas-based public oil and gas giant Exxon Mobil Corp., for example, with 2015 revenue of $268.9 billion (down substantially from previous years), is much larger than Dell, which reported revenue of $58.1 billion last year and is the largest private company in the state.
Click here to see the largest private company in every state.
Still, there are plenty of very large corporations that never opted to make a public offering. Wichita, Kansas-based Koch Industries, for instance, dwarfs the operations of Sprint Corp, the state’s largest public company. Sprint reported annual revenue of $32.2 billion in 2015, a fraction of Koch’s $115.0 billion revenue.
To identify the biggest company in each state, 247 Wall St. reviewed the largest private companies in each state based on revenue figures provided by PrivCo. Privco also provided annual growth rates, which are based on the most recent three fiscal years for each company, with the exception BCD Travel’s annual growth rate, which is based on the most recent two fiscal years. Headquarter locations also came from Privco.
These are the largest private companies in each state.
1. Alabama
> Largest private company: Ebsco Industries, Inc.
> 2015 revenue: $2.7 billion
> Annual growth rate: 5.5%
> Headquarters: Birmingham
2. Alaska
> Largest private company: Arctic Slope Regional Corporation
> 2015 revenue: $2.5 billion
> Annual growth rate: -1.7%
<> Headquarters: Barrow
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3. Arizona
> Largest private company: PetSmart, Inc
> 2015 revenue: $7.0 billion
> Annual growth rate: 4.6%
> Headquarters: Phoenix
4. Arkansas
> Largest private company: Stephens Inc.
> 2015 revenue: $2.3 billion
> Annual growth rate: 7.0%
> Headquarters: Little Rock
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5. California
> Largest private company: Safeway Inc.
> 2015 revenue: $37.7 billion
> Annual growth rate: 1.5%
> Headquarters: Pleasanton
6. Colorado
> Largest private company: PCL Construction Enterprises, Inc.
> 2015 revenue: $7.2 billion
> Annual growth rate: 1.7%
> Headquarters: Denver
7. Connecticut
> Largest private company: Boehringer Ingelheim Corp.
> 2015 revenue: $16.3 billion
> Annual growth rate: 22.6%
> Headquarters: Ridgefield
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8. Delaware
> Largest private company: Burris Logistics
> 2015 revenue: $3.8 billion
> Annual growth rate: 9.0%
> Headquarters: Milford
9. Florida
> Largest private company: Publix Super Markets Inc.
> 2015 revenue: $30.8 billion
> Annual growth rate: 3.6%
> Headquarters: Lakeland
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10. Georgia
> Largest private company: Georgia-Pacific Corp.
> 2015 revenue: $22.5 billion
> Annual growth rate: 4.5%
> Headquarters: Atlanta
11. Hawaii
> Largest private company: Hawaii Medical Service Association
> 2015 revenue: $3.0 billion
> Annual growth rate: 2.9%
> Headquarters: Honolulu
12. Idaho
> Largest private company: Albertsons Companies, Inc.
> 2015 revenue: $58.7 billion
> Annual growth rate: 151.0%
> Headquarters: Boise
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13. Illinois
> Largest private company: State Farm Mutual Automobile Insurance Co.
> 2015 revenue: $75.7 billion
> Annual growth rate: 5.0%
> Headquarters: Bloomington
14. Indiana
> Largest private company: Biomet, Inc.
> 2015 revenue: $6.0 billion
> Annual growth rate: 28.3%
> Headquarters: Warsaw
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15. Iowa
> Largest private company: Hy-Vee, Inc.
> 2015 revenue: $9.3 billion
> Annual growth rate: 6.8%
> Headquarters: West Des Moines
16. Kansas
> Largest private company: Koch Industries Inc
> 2015 revenue: $115.0 billion
> Annual growth rate: 0.0%
> Headquarters: Wichita
17. Kentucky
> Largest private company: Lexmark International, Inc.
> 2015 revenue: $3.6 billion
> Annual growth rate: -2.2%
> Headquarters: Lexington
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18. Louisiana
> Largest private company: Southern Power Systems
> 2015 revenue: $17.5 billion
> Annual growth rate: 1.8%
> Headquarters: Baton Rouge
19. Maine
> Largest private company: LL Bean
> 2015 revenue: $1.7 billion
> Annual growth rate: 2.9%
> Headquarters: Freeport
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20. Maryland
> Largest private company: Allegis Group, Inc.
> 2015 revenue: $12.5 billion
> Annual growth rate: 14.8%
> Headquarters: Hanover
21. Massachusetts
> Largest private company: Liberty Mutual Holding Co., Inc.
> 2015 revenue: $41.5 billion
> Annual growth rate: 4.5%
> Headquarters: Boston
22. Michigan
> Largest private company: Penske Corporation
> 2015 revenue: $29.2 billion
> Annual growth rate: 11.1%
> Headquarters: Bloomfield Hills
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23. Minnesota
> Largest private company: Cargill, Incorporated
> 2015 revenue: $120.4 billion
> Annual growth rate: -7.8%
> Headquarters: Wayzata
24. Mississippi
> Largest private company: Ergon Inc.
> 2015 revenue: $4.5 billion
> Annual growth rate: 5.8%
> Headquarters: Jackson
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25. Missouri
> Largest private company: BCD Travel
> 2015 revenue: $23.8 billion
> Annual growth rate: 3.1%
> Headquarters: Kansas City
26. Montana
> Largest private company: Barnard Construction Co. Inc
> 2015 revenue: $467.1 million
> Annual growth rate: 24.5%
> Headquarters: Bozeman
27. Nebraska
> Largest private company: Kiewit Corporation
> 2015 revenue: $9.0 billion
> Annual growth rate: -10.0%
> Headquarters: Omaha
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28. Nevada
> Largest private company: Fletcher Jones Automotive Group
> 2015 revenue: $2.3 billion
> Annual growth rate: 12.3%
> Headquarters: Las Vegas
29. New Hampshire
> Largest private company: C&S Wholesale Grocers, Inc.
> 2015 revenue: $30.0 billion
> Annual growth rate: 11.4%
> Headquarters: Keene
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30. New Jersey
> Largest private company: Wakefern Food Corporation
> 2015 revenue: $15.9 billion
> Annual growth rate: 5.4%
> Headquarters: Keasbey
31. New Mexico
> Largest private company: HUB International Insurance Services Inc.
> 2015 revenue: $1.4 billion
> Annual growth rate: 11.7%
> Headquarters: Albuquerque
32. New York
> Largest private company: New York Life Insurance Company
> 2015 revenue: $45.9 billion
> Annual growth rate: 10.2%
> Headquarters: New York
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33. North Carolina
> Largest private company: Nationwide Marketing Group, LLC
> 2015 revenue: $15.0 billion
> Annual growth rate: 0%
> Headquarters: Winston-Salem
34. North Dakota
> Largest private company: Basin Electric Power Cooperative
> 2015 revenue: $2.2 billion
> Annual growth rate: 5.2%
> Headquarters: Bismarck
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35. Ohio
> Largest private company: Nationwide Mutual Insurance Co.
> 2015 revenue: $43 billion
> Annual growth rate: 12.3%
> Headquarters: Columbus
36. Oklahoma
> Largest private company: Love’s Travel Stops & Country Stores, Inc.
> 2015 revenue: $14.2 billion
> Annual growth rate: -5.8%
> Headquarters: Oklahoma City
37. Oregon
> Largest private company: Vesta Corporation
> 2015 revenue: $3.1 billion
> Annual growth rate: 5.6%
> Headquarters: Portland
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38. Pennsylvania
> Largest private company: Independence Blue Cross
> 2015 revenue: $14.0 billion
> Annual growth rate: 10.2%
> Headquarters: Philadelphia
39. Rhode Island
> Largest private company: Gilbane Building Co.
> 2015 revenue: $4.5 billion
> Annual growth rate: 12.8%
> Headquarters: Providence
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40. South Carolina
> Largest private company: InterTech Group, Inc.
> 2015 revenue: $4.3 billion
> Annual growth rate: 3.8%
> Headquarters: North Charleston
41. South Dakota
> Largest private company: Poet, LLC
> 2015 revenue: $6.7 billion
> Annual growth rate: 4.5%
> Headquarters: Sioux Falls
42. Tennessee
> Largest private company: Pilot Flying J
> 2015 revenue: $22.9 billion
> Annual growth rate: -9.4%
> Headquarters: Knoxville
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43. Texas
> Largest private company: Dell Inc.
> 2015 revenue: $58.1 billion
> Annual growth rate: -1.2%
> Headquarters: Round Rock
44. Utah
> Largest private company: Sinclair Oil Corporation
> 2015 revenue: $5.0 billion
> Annual growth rate: -13.5%
> Headquarters: Salt Lake City
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45. Vermont
> Largest private company: Keurig Green Mountain, Inc.
> 2015 revenue: $4.5 billion
> Annual growth rate: 5.4%
> Headquarters: Waterbury
46. Virginia
> Largest private company: The Long & Foster Companies, Inc.
> 2015 revenue: $56.0 billion
> Annual growth rate: 4.8%
> Headquarters: Chantilly
47. Washington
> Largest private company: Puget Energy, Inc.
> 2015 revenue: $3.1 billion
> Annual growth rate: -1.3%
> Headquarters: Bellevue
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48. West Virginia
> Largest private company: Camcare Inc.
> 2015 revenue: $480.0 million
> Annual growth rate: 3.1%
> Headquarters: Charleston
49. Wisconsin
> Largest private company: Northwestern Mutual Life Insurance Company
> 2015 revenue: $27.8 billion
> Annual growth rate: 4.2%
> Headquarters: Milwaukee
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50. Wyoming
> Largest private company: Bloedorn Lumber
> 2015 revenue: $112.7 million
> Annual growth rate: 5.1%
> Headquarters: Torrington
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