Many of the brands, stores, products, and services consumers rely on for everyday life are made possible by large private companies. These businesses are pillars of the American economy, shaping communities, creating jobs, and driving innovation.
What are large private companies? Large private companies employ at least 500 employees and are found in every major industry—from healthcare and technology to energy, retail, agriculture, and transportation. Unlike publicly traded companies, they choose to remain private, with many focusing on long-term, strategic investments that promote innovation, resilience, and sustainable growth.
How large private companies shape everyday life: The Large Private Companies Impact Report released in Fall 2024 provides a comprehensive analysis of these businesses' role in America's economy and communities.
- Empowering America's workforce: These businesses support 1 in 10 U.S. jobs (over 17 million), providing stability and growth opportunities for millions of American households.
- Driving innovation: Contributing to $3.1 trillion to the economy, large private companies drive innovations in healthcare and technology, impacting all aspects of American life.
- Boosting local economies: On average, they contribute about 10% to states' GDP, supporting local businesses, investing in communities, and keeping Main Streets vibrant.
- Reaching customers nationwide: From small towns to major cities, large private companies do business in all 50 states, delivering jobs and opportunities to millions.
- Delivering economic security: These businesses generate $1.7 trillion in personal income, helping families manage expenses and plan for a secure future.
Why it matters: These businesses are more than just economic drivers—they are also community builders, providing long-term stability and fostering a thriving economy. Supporting policies that ensure their success helps families and communities prosper.
Download the full report: Want to see the impact of large private companies on your state? Discover more by downloading the full Large Private Companies Report on this page.
