The electronics giant has reportedly informed employees that it plans to relocate its U.S. headquarters from Englewood Cliffs, New Jersey, to Plano, Texas, by the end of this year.
The move, which industry observers say is intended to strengthen coordination across Samsung's semiconductor, mobile, and network businesses, would come about a year after it relocated its U.S. headquarters from Ridgefield Park to Englewood Cliffs, both in New Jersey.
About 1,000 employees currently work at the Englewood Cliffs office. Samsung is expected to relocate most of them to Plano, while retaining a small number of staff to manage local operations.
Plano is home to Samsung's U.S. mobile and network operations, while nearby Austin has a semiconductor manufacturing plant. Samsung is also building an advanced foundry facility in Taylor, also in Texas, which is slated to begin operations by the end of the year.
Texas has emerged as a major investment hub for global companies, supported by relatively low corporate taxes, various tax incentives, and lower real estate costs. Companies such as Tesla and Oracle have also relocated their headquarters or expanded key operations in the state in recent years.
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