The U.S. unit of Samsung Electronics will transfer its New Jersey Englewood Cliffs headquarters to Plano, Texas within the year. The retransfer comes just a year after moving from Ridgefield Park to Englewood Cliffs last year, and is seen as a strategic move to reorganize its U.S. business base around Texas.
According to the industry on the 1st, Samsung Electronics recently notified employees of its U.S. subsidiary of the plan. Of the roughly 1,000 people currently working in Englewood Cliffs, most, except for the personnel who will remain locally, are expected to be reassigned to the new headquarters in Plano.
With this transfer, Samsung Electronics' U.S. business infrastructure will be concentrated in Texas. Plano already operates offices in charge of mobile and network businesses, and when you add the nearby Austin semiconductor plant and the Taylor foundry plant, which is in the final stages of work with a goal of starting operations this year, the key base in the United States will be fully unified in Texas.
Texas' distinctive business environment also appears to have influenced the transfer decision. Texas is considered advantageous for attracting talent and reducing operating expense, with richer tax benefits than other states and lower real estate costs. In fact, global big tech companies such as Tesla and Oracle have transferred their headquarters to Texas one after another in the 2020s.