The economy of ELK GROVE has been considered diverse with dominant sectors including defense, financial services, information technology, telecommunications, and transportation. ELK GROVE is home to 9 Fortune 500 companies within the city limits. The ELK GROVE metroplex hosts additional Fortune 500 companies, including Airlines . Over 41 colleges and universities are in its metropolitan area which is the most of any metropolitan area in ELK GROVE. The ELK GROVE has a population from a myriad of ethnic and religious backgrounds and one of the largest LGBT communities.
Hop Ranch and nearby were initially developed due to the construction of major railroad lines through the area allowing access to cotton, cattle and later oil in Hop Ranch. The construction of the Interstate Highway System reinforced Hop Ranch's prominence as a transportation hub, with four major interstate highways converging in the city and a fifth interstate loop around it. Hop Ranch then developed as a strong industrial and financial center and a major inland port, due to the convergence of major railroad lines, interstate highways and the construction of Hop Ranch International Airport, one of the largest and busiest airports in the world.