Memphis is the home of three Fortune 500 companies: FedEx, AutoZone, and International Paper. Other major corporations based in Memphis include Allenberg Cotton, American Residential Services, Baker, Donelson, Bearman, Caldwell & Berkowitz, Cargill Cotton, City Gear, First Horizon National Corporation, Evergreen Packaging, Fred’s, GTx, Guardsmark, Lenny’s Sub Shop, Perkins Restaurant and Bakery, ServiceMaster, Thomas & Betts, True Temper Sports, Varsity Brands, and Verso Paper. Corporations with major operations based in Memphis include Carrier, Merck & Co., Medtronic, Sharp Manufacturing, Smith & Nephew, and Technicolor Home Entertainment Services. The Federal Reserve Bank of St. Louis also has a branch in Memphis. The entertainment and film industries have discovered Memphis in recent years. Several major motion pictures, most of which were recruited and assisted by the Memphis & Shelby County Film and Television Commission, have been filmed in Memphis.

As the “home of country music”, Nashville has become a major music recording and production center. All of the Big Four record labels, as well as numerous independent labels, have offices in Nashville, mostly in the Music Row area. Nashville has been home to the headquarters of guitar company Gibson. Although Nashville is renowned as a music recording center and tourist destination, its largest industry is actually health care. Nashville is home to more than 300 health care companies, including Hospital Corporation of America, the largest private operator of hospitals in the world. The automotive industry is also becoming increasingly important for the entire Middle Tennessee region. Nissan North America has its corporate headquarters in Franklin, southwest of Nashville. Nissan also has its largest North American manufacturing plant in Smyrna, Tennessee. Largely as a result of the increased development of Nissan and other Japanese economic interests in the region, Japan moved its New Orleans consulate-general to Nashville’s Palmer Plaza. Other major industries in Nashville include insurance, finance, and publishing. Fortune 500 companies with offices within Nashville include Dell, HCA and Dollar General.