For sheer scope and scale, New York City still towers above all other U.S. metropolises as a business hub. This year’s Fortune 500 features 65 companies headquartered in the greater New York area, with a cumulative total of nearly $1.8 trillion in revenue—equal to 12.5% of the 500 overall. Second-place Dallas, meanwhile, got a major boost last year when drug distributor McKesson, No. 8 on the 500 list with $214 billion in sales, relocated its headquarters from San Francisco to tax-friendly Texas. But the combined clout of the tech economy continues to grow. The Fortune 500 companies based in America’s three biggest tech towns—San Francisco, San Jose, and Seattle—had total sales of $2.04 trillion in 2019. That’s enough to surpass even New York.

A version of this article appears in the June/July 2020 issue of Fortune with the headline "Power centers of the Fortune 500."