Samsung Electronics America is relocating its U.S. headquarters from Englewood Cliffs, New Jersey, to its existing campus in Plano, Texas. The move occurs only eight months after the company occupied the New Jersey facility.
Samsung describes the relocation as a business transformation to optimize its organizational structure. The company aims to position the organization for long-term growth and future success.
The decision follows a trend of major corporations moving to Texas for its favorable business climate. Observers cite New Jersey's high corporate taxes and regulatory landscape as factors driving businesses away.