Samsung is officially PACKING UP and moving to Texas! 🚨
Talk about a plot twist. Less than a year after cutting the ribbon on a brand-new, 325,000-square-foot campus in Englewood Cliffs, New Jersey, the South Korean tech giant dropped a massive bombshell on its employees: Samsung is abandoning the Garden State and moving its entire U.S. corporate headquarters to Plano, Texas. The timeline? Lightning fast. They plan to have the entire corporate shakeup finalized by the end of this year.
Here is the wild story behind the massive move:
📉 The New Jersey Fallout
For over 40 years, New Jersey was the nerve center for Samsung Electronics America. But today, local leaders are reeling. Critics are pointing fingers at NJ’s 11.5% corporate tax rate—the highest in the nation. Meanwhile, approximately 1,000 corporate employees were blindsided by the news. They now face a massive choice: uproot their lives for the Lone Star State, or face layoffs.
🤠 The $37 Billion Texas Gravity Well
Why Plano? Samsung is moving its brain to where its muscle already is. Texas has become the epicenter of Samsung's future. By centering executive leadership in Plano, they are creating a massive tech ecosystem right alongside their other Texas juggernauts:
Their massive mobile division (already in Plano)
Their foundational chip plant in Austin
The mind-boggling $37 billion advanced semiconductor foundry is currently being built in Taylor, Texas.
By moving to North Texas, Samsung eliminates the friction of managing a cutting-edge chip empire from 1,500 miles away.
Samsung now joins the ranks of Tesla, Oracle, and Hewlett-Packard Enterprise in the great corporate migration to Texas. The Lone Star State just solidified its crown as the premier tech hub of the American South.
👇 North Texas friends, how do we feel about another tech giant moving into the backyard?