Conditional Data Validation Drop-down Lists with Large Amounts of Data

Attached is my file. What I am wondering is whether there is a way with a very large amount of data (Lookup Table worksheet), can you create a data validation drop-down list that only pulls Exchange Names that correspond to the Company Name selected in cell B5 of worksheet 'Company Exchange State Counties?'

For example, if the Company in cell B5 is West Penobscott Telephone and Telegraph Company,' and I want the dropdown in cell B16 to only allow the user to select Exchange Names from the Lookup Table worksheet that correspond to that company and no others.

The Exchange Names, all unique values with no duplicates, are found in Column D of the 'Lookup Table' worksheet.

Any help would be greatly appreciated.

NOTE: I meant to highlight cell B13 and highlighted B16. Cell B13 is the cell that I need the dropdown list in question located.

A.

Thanks to you both for your replies. Nisha - this is amazing. Thank you SO much. I will be saving this as a template for future such requests. Sincerely, Aimee.