At Security Bank & Trust Company, we believe that creative entrepreneurs and individuals are the engine of America's economy. We love to help our startups and small companies succeed and grow. While they may never make it on the Fortune 500 list, there is a direct connection to these larger companies. Fortune 500's strengthen the local business ecosystem by creating a pipeline of talent, resources, and investments to build up the local startup scene. They also help our local small and midsize businesses by bringing in employees who live and spend here. This year Minnesota had 16 companies land on the Fortune 500 list.
The highest ranking company to make it on the list was UnitedHealth Group (#6). Based in Minnetonka, this health care company is Minnesota's largest has been a staple on the list for many years. It's sprawling business employs thousands of people around our branches in the Southwest Metro corridor.
The second largest is our hometown favorite Target (#39). A one stop shop for everything from groceries to bedding and everything in between. Target even has a debit card you can link to your personal checking account to save you 5% every time you shop. I can tell you from personal experience that adds up quickly.
Coming in as the third largest on the list is Best Buy (#74). This year Best Buy appointed Corie Barry as CEO. One of only 33 female CEO's on the list. It's a great reflection of our community being on the leading edge.
The list includes more women CEOs than ever before (33 out of 500), including two new CEOs at Minnesota companies. Arden Hills-based Land O'Lakes (No. 212) named Beth Ford its top executive last summer, while Corie Barry just ascended to the CEO role at Richfield-based Best Buy (No. 74).
Rounding out the top 5 on the list are 3M (#95), CHS (#97), and U.S. Bancorp (#117). C.H. Robinson Worldwide (#185) and General Mills (#200) are the next largest on the list. C.H. Robinson Worldwide and Supervalu (#201) are two that join UnitedHealth Group with significant operations in our own backyard in Eden Prairie.
The second of the Minnesota Companies with a female CEO is Land O'Lakes (#212). This the Arden Hills-based food company, moved up four places in this year’s list. The company posted revenues of $14.94 billion, an increase of 8.7 percent.
Ecolab (#215), Ameriprise Financial (#249), Xcel Energy (#274), Hormel Foods (#328), Thrivent Financial for Lutherans (#351), and Polaris Industries (#476) round out the the list from Minnesota.
Polaris moved 20 spots up the 2019 list, with revenues of $6.17 billion — an increase of 12 percent over 2018, according to Forbes. The company, headquartered in Medina, Minn., makes snowmobiles, motorcycles and off-road vehicles.
Overall, Minnesota ranked #11 by State of the companies on the Fortune 500 list for 2019.
