Samsung plans to its relocate its U.S. headquarters to Plano, Texas, which will cost New Jersey roughly 1,000 jobs.
The South Korean tech giant said this week that it would move its headquarters out of Englewood Cliffs, New Jersey, to its campus in Plano, Texas, less than one year after it celebrated the opening of a new headquarters in Bergen County, New Jersey.
The transition will be completed by the end of the year, according to Samsung. Samsung has been in Bergen County for roughly three decades and operated its Ridgefield Park headquarters from the early 1990s before moving to Englewood Cliffs in 2025.
“Samsung Electronics America Inc. is undergoing a business transformation designed to better position our organization for long-term growth and future success,” Samsung said.
“As part of this effort, we are relocating our US headquarters from New Jersey to our existing campus in Plano, Texas, building on our 30-year presence in the state,” it continued in a statement.
Samsung has yet to say if it will completely abandon the New Jersey location, which exceeds 300,000 square feet.
The New Jersey Business & Industry Association said in a statement that Samsung’s exit reflects concerns about the state’s competitiveness and business climate. The group urged Gov. Mikie Sherrill (D-NJ) to pursue policies that would reduce red tape and make the state more attractive to businesses.
“Governor Sherrill has signaled the need and want to improve our business climate, to reduce costs, red tape and other permitting and regulatory burdens,” the business group said in a statement.
“We believe there is reason to be optimistic,” the group added.
Samsung said in a statement, “The transition … is intended to strengthen alignment across teams and offices, and sharpen our focus on the areas that will drive the greatest impact for our customers, partners and business.”
“As part of this strategy, we will be optimizing parts of the organization to ensure our roles and functions align to key business priorities,” it added.
Will Hild, the executive director of Consumers’ Research, said in a statement:
Samsung’s decision to reincorporate in Texas is just the latest example of a seismic shift taking place in the business landscape. Pro-growth states like Texas that actually want companies to succeed are proving to be powerful magnets for businesses being crushed by radical policies and politicians in places like New Jersey, New York and California. Notably, in addition to keeping taxes low and regulation light relative to their competitors, Texas has taken groundbreaking steps to protect businesses incorporated there from molestation by rogue woke actors like Proxy Advisors. By making this sensible move, Samsung and other companies are demonstrating that they’re done being battered by far-left government hacks and woke Wall Street firms and will fight to put the interests of their investors and customers first.
He added, “Consumers Research applauds these firms and hopes more are encouraged to follow.”
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