Short answer
Tennessee had 150,129 business establishments with paid employees in 2023, employing 2,971,417 people, according to the Census Bureau. The largest public companies headquartered in the state, by revenue in their latest 10-Ks, are FedEx of Memphis ($94.72 billion for the year to May 2026), HCA Healthcare of Nashville ($75.60 billion), Dollar General of Goodlettsville ($42.72 billion), International Paper of Memphis ($23.63 billion) and AutoZone of Memphis ($20.34 billion).
- The 25 largest Tennessee headquarters reported $377.15 billion; FedEx, HCA and Dollar General are 56.5% of it.
- Nashville-area companies reported $203.47 billion and Memphis-area companies $151.85 billion.
- Williamson County is home to nine of the 25, six of them in Brentwood.
- Admin and staffing services run 34 of the state's 212 workplaces with 1,000 or more employees, as many as manufacturing.
- Shelby County has 177 of Tennessee's 605 warehouses and 19,200 warehouse jobs.
On this page
This page is for anyone who needs to find or size businesses in Tennessee: suppliers and partners, job seekers, researchers and B2B sellers working out how to cover a state with four distinct metros. It covers the Census count of businesses by county and sector, the 25 biggest public headquarters, the largest employers in the Nashville area, the state's business records, and a worked example for selling to Memphis-area distribution centers.
How many businesses are in Tennessee
The Census Bureau's County Business Patterns (CBP) counts locations with paid employees. For Tennessee in 2023:
| Measure | Tennessee, 2023 |
|---|---|
| Establishments | 150,129 |
| Employees | 2,971,417 |
| Annual payroll | $175,817,792,000 |
| Average employees per establishment | 19.8 |
| Average annual pay | $59,170 |
| Share of US establishments | 1.80% (of 8,361,342) |
| Rank among states by establishments | 20 |
| Employees at the establishment | Establishments |
|---|---|
| 1 to 4 | 72,504 |
| 5 to 9 | 29,750 |
| 10 to 19 | 21,441 |
| 20 to 49 | 16,499 |
| 50 to 99 | 5,341 |
| 100 to 249 | 3,195 |
| 250 to 499 | 868 |
| 500 to 999 | 319 |
| 1,000 or more | 212 |
In bands: 123,695 establishments (82.4%) have 1 to 19 employees, 21,840 have 20 to 99 and 4,594 have 100 or more.
| County | Main city | Establishments | Employees | Average pay | 1,000 or more employees |
|---|---|---|---|---|---|
| Davidson | Nashville | 22,122 | 526,927 | $73,370 | 37 |
| Shelby | Memphis | 19,359 | 446,048 | $64,548 | 33 |
| Knox | Knoxville | 12,519 | 242,117 | $56,286 | 13 |
| Hamilton | Chattanooga | 9,883 | 205,761 | $56,819 | 14 |
| Williamson | Franklin, Brentwood | 8,707 | 149,544 | $78,308 | 15 |
| Rutherford | Murfreesboro | 6,285 | 128,935 | $53,643 | 10 |
Davidson and Shelby counties hold 27.6% of establishments and 33 to 37 large workplaces each. Williamson County, south of Nashville, has the highest average pay of the six. Average pay is our calculation from CBP payroll. CBP counts locations rather than companies and leaves out the self-employed and government, and it measures employment in the pay period including March 12, 2023.
The 25 biggest companies headquartered in Tennessee
Ranked by revenue in each company's latest annual report on Form 10-K, with the head office from its cover page:
| Rank | Company | Headquarters | Revenue | Year ended | Employees |
|---|---|---|---|---|---|
| 1 | FedEx | Memphis | $94.72 billion | May 2026 | about 452,000 at Federal Express |
| 2 | HCA Healthcare | Nashville | $75.60 billion | Dec 2025 | about 320,000 |
| 3 | Dollar General | Goodlettsville | $42.72 billion | Jan 2026 | about 194,000 |
| 4 | International Paper | Memphis | $23.63 billion | Dec 2025 | about 62,602 |
| 5 | AutoZone | Memphis | $20.34 billion | Aug 2026 | about 132,000 |
| 6 | Tractor Supply | Brentwood | $15.52 billion | Dec 2025 | about 52,000 |
| 7 | LKQ | Antioch (Nashville) | $13.65 billion | Dec 2025 | about 44,000 |
| 8 | Unum Group | Chattanooga | $13.08 billion | Dec 2025 | 10,910 |
| 9 | Community Health Systems | Franklin | $12.49 billion | Dec 2025 | about 57,000 |
| 10 | Delek US Holdings | Brentwood | $10.72 billion | Dec 2025 | 1,902 full-time |
| 11 | Eastman Chemical | Kingsport | $8.75 billion | Dec 2025 | about 13,000 |
| 12 | Ardent Health | Brentwood | $6.32 billion | Dec 2025 | about 25,200 |
| 13 | Mueller Industries | Collierville | $4.18 billion | Dec 2025 | about 4,832 |
| 14 | First Horizon | Memphis | $3.42 billion | Dec 2025 | 7,404 |
| 15 | Kaiser Aluminum | Franklin | $3.37 billion | Dec 2025 | 3,840 |
| 16 | Sylvamo | Memphis | $3.35 billion | Dec 2025 | over 6,500 |
| 17 | Cracker Barrel Old Country Store | Lebanon | $3.32 billion | Jul 2026 | about 74,500 |
| 18 | Acadia Healthcare | Franklin | $3.31 billion | Dec 2025 | about 25,000 |
| 19 | Surgery Partners | Brentwood | $3.31 billion | Dec 2025 | about 16,000 |
| 20 | Brookdale Senior Living | Brentwood | $3.19 billion | Dec 2025 | about 33,000 |
| 21 | Louisiana-Pacific | Nashville | $2.71 billion | Dec 2025 | about 4,300 |
| 22 | Ryman Hospitality Properties | Nashville | $2.58 billion | Dec 2025 | 1,819 (entertainment and corporate) |
| 23 | Genesco | Nashville | $2.44 billion | Jan 2026 | about 16,000 |
| 24 | CoreCivic | Brentwood | $2.21 billion | Dec 2025 | 13,651 |
| 25 | Mid-America Apartment Communities | Germantown | $2.21 billion | Dec 2025 | 2,507 |
First Horizon's revenue is net interest income plus noninterest income. FedEx's 10-K gives headcounts by operating company; Federal Express alone had about 233,000 full-time and 219,000 part-time employees in May 2026. Dollar General's figure is as of February 27, 2026. Tractor Supply's figure is about 26,000 full-time and 26,000 part-time team members. FedEx Freight Holding, also in Memphis, reported $8.80 billion for the same year to May 2026, but it earned that as part of FedEx before FedEx completed the spin-off on 1 June 2026, so it isn't ranked separately here.
| Metro | Headquarters in the top 25 | Combined revenue |
|---|---|---|
| Nashville | 16 | $203.47 billion |
| Memphis | 7 | $151.85 billion |
| Chattanooga | 1 (Unum) | $13.08 billion |
| Kingsport | 1 (Eastman) | $8.75 billion |
Six of the Nashville 16 run hospitals, behavioral health, surgery centers or senior living (HCA, Community Health, Ardent, Acadia, Surgery Partners and Brookdale), with $104.23 billion of revenue between them. Memphis's seven lean toward logistics, paper and retail. For each metro in detail, see companies in Nashville, companies in Memphis and companies in Chattanooga.
Who employs the most people in the Nashville area
The Metropolitan Government of Nashville and Davidson County publishes the area's principal employers in its financial report for the year ended June 30, 2025, using Nashville Area Chamber of Commerce and Nashville Business Journal figures for the metro:
| Rank | Employer | Employees, 2025 | Employees, 2016 |
|---|---|---|---|
| 1 | Vanderbilt University | 41,284 | 24,719 |
| 2 | State of Tennessee | 28,185 | 17,219 |
| 3 | HCA Healthcare | 27,700 | 7,000 |
| 4 | Metro Nashville-Davidson County Government and Public Schools | 22,322 | 18,820 |
| 5 | U.S. Government | 14,678 | 12,225 |
| 6 | Amazon | 13,200 | not in top ten |
| 7 | Ascension Saint Thomas | 10,069 | 7,100 |
| 8 | Kroger | 8,100 | not in top ten |
| 9 | Nissan North America | 7,250 | 10,900 |
| 10 | Western Express | 5,148 | not in top ten |
The ten employ 177,936 people, 15.73% of the metro's employment. HCA's local headcount nearly quadrupled on this measure, while Nissan's fell by 3,650. Community Health Systems, Asurion and Randstad have dropped out of the top ten since 2016.
What Tennessee businesses do
| Sector (NAICS) | Establishments | Employees | Average pay |
|---|---|---|---|
| Retail trade (44 to 45) | 23,463 | 349,855 | $36,427 |
| Health care and social assistance (62) | 17,524 | 455,877 | $67,563 |
| Accommodation and food services (72) | 15,443 | 321,203 | $24,644 |
| Construction (23) | 12,692 | 145,006 | $71,077 |
| Professional, scientific and technical services (54) | 12,568 | 141,886 | $92,105 |
| Finance and insurance (52) | 9,913 | 137,754 | $96,419 |
| Administrative and support services (56) | 8,258 | 292,794 | $43,410 |
| Manufacturing (31 to 33) | 5,787 | 357,878 | $66,056 |
| Transportation and warehousing (48 to 49) | 5,285 | 188,529 | $56,846 |
| Management of companies (55) | 1,311 | 118,357 | $106,248 |
Big workplaces define the state. Health care has 46 of the 212 private establishments with 1,000 or more employees, manufacturing 34 and administrative and support services another 34, most of them employment services (149,084 employees at 1,266 establishments) that staff warehouses and plants. The 1,311 corporate and regional head offices in management of companies employ 118,357 people at average pay of $106,248, 20 of them with 1,000 or more staff. Warehousing and storage (NAICS 4931) has 605 establishments and 52,817 employees, a figure the Census Bureau flags as moderately affected by its confidentiality noise. For the sectors in detail, see manufacturing companies in Tennessee and trucking companies in Tennessee.
How to look up a Tennessee business
| Source | What it's good for |
|---|---|
| Tennessee Secretary of State business entity search | Whether a corporation or LLC is registered and active, its registered agent and annual reports |
| Board for Licensing Contractors | Contractor licenses and the rules for commercial and residential work |
| Jobs4TN | The state's job and labor market information portal |
| Tennessee Department of Economic and Community Development | Industry profiles, site data and recent business recruitments |
| Nashville Area Chamber of Commerce | Member businesses and the regional research center |
| SEC EDGAR, Tennessee 10-K filers | Annual reports for the public companies above |
Tennessee cities and counties issue their own business licenses, so a supplier should hold one where it operates as well as a state registration.
Prospecting Memphis-area distribution centers
Memphis is where Tennessee's warehouses cluster: Shelby County has 177 of the state's 605 warehousing establishments and 19,200 of their employees, and 4 of its warehouses have 1,000 or more staff. Operators buy maintenance, equipment and labor services site by site, usually through a general manager and a facilities or maintenance manager.
Illustrative example. The company, rates and results are fictional, to show the method.
Bluff City Dock Service (bluffcitydock.example) maintains dock doors, levelers and restraints and wants Tennessee warehouses with 100 or more employees.
- Warehousing and storage establishments with 100 to 249 employees: 63; 250 to 499: 28; 500 to 999: 14; 1,000 or more: 10. That's 115 buildings statewide.
- It starts in Shelby County, which has 29.3% of the state's warehouses, and plans on about 35 buildings within an hour of its shop.
- Eight annual maintenance contracts at $36,000 each would be $288,000.
It targets the facilities or maintenance manager first and the general manager second, and times outreach to peak-season planning in late summer, when operators want doors fixed before volume rises. Finding which operator runs each building, and who owns maintenance there, is the research Bebop does for each account.
Subject: Dock doors at [Site] before peak Hi [first name], A dock door or leveler that fails in November costs a building trucks and overtime when it can least afford it. We maintain doors, levelers and restraints for distribution centers across Shelby and DeSoto counties on a fixed monthly schedule, with same-day repairs. Could we walk your docks for an hour and give you a list of what needs work before peak? [Your name], Bluff City Dock Service
Next step: turn a market like this into a working list with how to build a prospect list.
Sources
- County Business Patterns 2023, US Census Bureau, accessed 30 October 2026
- Annual Comprehensive Financial Report, fiscal year ended 30 June 2025 (Principal Employers), Metropolitan Government of Nashville and Davidson County, December 2025, accessed 30 October 2026
- FedEx annual report on Form 10-K, fiscal year ended 31 May 2026, FedEx (SEC EDGAR), 20 July 2026
- HCA Healthcare annual report on Form 10-K, fiscal year ended 31 December 2025, HCA Healthcare (SEC EDGAR), 10 February 2026
- Dollar General annual report on Form 10-K, fiscal year ended 30 January 2026, Dollar General (SEC EDGAR), 20 March 2026
- International Paper annual report on Form 10-K, fiscal year ended 31 December 2025, International Paper (SEC EDGAR), 27 February 2026
- AutoZone annual report on Form 10-K, fiscal year ended 29 August 2026, AutoZone (SEC EDGAR), 26 October 2026
- Tractor Supply annual report on Form 10-K, fiscal year ended 27 December 2025, Tractor Supply (SEC EDGAR), 19 February 2026
- LKQ annual report on Form 10-K, fiscal year ended 31 December 2025, LKQ (SEC EDGAR), 19 February 2026
- Unum Group annual report on Form 10-K, fiscal year ended 31 December 2025, Unum Group (SEC EDGAR), 17 February 2026
- Community Health Systems annual report on Form 10-K, fiscal year ended 31 December 2025, Community Health Systems (SEC EDGAR), 19 February 2026
- Delek US Holdings annual report on Form 10-K, fiscal year ended 31 December 2025, Delek US Holdings (SEC EDGAR), 27 February 2026
- Eastman Chemical annual report on Form 10-K, fiscal year ended 31 December 2025, Eastman Chemical (SEC EDGAR), 13 February 2026
- Ardent Health annual report on Form 10-K, fiscal year ended 31 December 2025, Ardent Health (SEC EDGAR), 16 March 2026
- Mueller Industries annual report on Form 10-K, fiscal year ended 27 December 2025, Mueller Industries (SEC EDGAR), 25 February 2026
- First Horizon annual report on Form 10-K, fiscal year ended 31 December 2025, First Horizon (SEC EDGAR), 26 February 2026
- Kaiser Aluminum annual report on Form 10-K, fiscal year ended 31 December 2025, Kaiser Aluminum (SEC EDGAR), 19 February 2026
- Sylvamo annual report on Form 10-K, fiscal year ended 31 December 2025, Sylvamo (SEC EDGAR), 20 February 2026
- Cracker Barrel Old Country Store annual report on Form 10-K, fiscal year ended 31 July 2026, Cracker Barrel Old Country Store (SEC EDGAR), 25 September 2026
- Acadia Healthcare annual report on Form 10-K, fiscal year ended 31 December 2025, Acadia Healthcare (SEC EDGAR), 27 February 2026
- Surgery Partners annual report on Form 10-K, fiscal year ended 31 December 2025, Surgery Partners (SEC EDGAR), 2 March 2026
- Brookdale Senior Living annual report on Form 10-K, fiscal year ended 31 December 2025, Brookdale Senior Living (SEC EDGAR), 19 February 2026
- Louisiana-Pacific annual report on Form 10-K, fiscal year ended 31 December 2025, Louisiana-Pacific (SEC EDGAR), 17 February 2026
- Ryman Hospitality Properties annual report on Form 10-K, fiscal year ended 31 December 2025, Ryman Hospitality Properties (SEC EDGAR), 24 February 2026
- Genesco annual report on Form 10-K, fiscal year ended 31 January 2026, Genesco (SEC EDGAR), 25 March 2026
- CoreCivic annual report on Form 10-K, fiscal year ended 31 December 2025, CoreCivic (SEC EDGAR), 20 February 2026
- Mid-America Apartment Communities annual report on Form 10-K, fiscal year ended 31 December 2025, Mid-America Apartment Communities (SEC EDGAR), 6 February 2026
- FedEx Freight Holding annual report on Form 10-K, fiscal year ended 31 May 2026, FedEx Freight Holding (SEC EDGAR), 5 August 2026
- Business entity search, Tennessee Secretary of State, accessed 30 October 2026
Written by the Bebop team at Blackpearl Group. Published .
Questions people ask
How many businesses are in Tennessee?
The Census Bureau counted 150,129 business establishments with paid employees in Tennessee in 2023, 20th among states, employing 2,971,417 people. Davidson County had 22,122 of them and Shelby County 19,359. The count covers locations rather than companies and leaves out the self-employed and government.
What are the biggest companies in Tennessee?
By revenue in their latest 10-Ks, the largest public companies headquartered in Tennessee are FedEx of Memphis ($94.72 billion for the year to May 2026), HCA Healthcare of Nashville ($75.60 billion), Dollar General of Goodlettsville ($42.72 billion), International Paper of Memphis ($23.63 billion) and AutoZone of Memphis ($20.34 billion). Tractor Supply, LKQ, Unum, Community Health Systems and Delek complete the top ten.
Who is the largest employer in Nashville?
Vanderbilt University, with 41,284 employees in the metro on the Nashville and Davidson County government's 2025 principal employers list, which uses Nashville Area Chamber and Nashville Business Journal figures. The State of Tennessee (28,185) and HCA Healthcare (27,700) are second and third, followed by Metro government and public schools (22,322).
Why are so many healthcare companies in Nashville?
The filings show the cluster rather than the cause. Six of Tennessee's 25 largest public companies run hospitals, behavioral health centers, surgery centers or senior living, and all six are in Nashville, Franklin or Brentwood: HCA, Community Health Systems, Ardent Health, Acadia Healthcare, Surgery Partners and Brookdale. Together they reported $104.23 billion of revenue.
How do I look up a business in Tennessee?
Use the Tennessee Secretary of State's business entity search to confirm a company is registered and active and to see its registered agent and annual reports. Contractors are licensed by the state Board for Licensing Contractors, and cities and counties issue local business licenses. Public companies' annual reports are on SEC EDGAR.