Tag Archives: Samsung

The Exodus Continues

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On Wednesday, Breitbart posted an article about another large company leaving New Jersey.

The article reports:

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 article concludes:

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.”

If New Jersey wants companies to remain in their state, they need to reconsider who they are electing to office.

The Proper Solution To The Computer Chip Shortage

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The Daily Wire reported yesterday that Samsung s planning to build a $17 billion semiconductor factory in Taylor, Texas.

The article reports:

A statement from the office of Gov. Greg Abbott (R-TX) says that Samsung chose the Lone Star State due to its business-friendly climate:

The new manufacturing facility will produce advanced logic chips that will power next-generation devices for applications such as mobile, 5G, high-performance computing (HPC), and artificial intelligence (AI).

The project will create over 2,000 high-tech jobs, thousands of indirect jobs, and a minimum of 6,500 construction jobs. Construction will begin in early 2022 with a target of production start in the second half of 2024. The $17 billion in capital investments includes buildings, property improvements, machinery, and equipment.

A Texas Enterprise Fund (TEF) grant of $27,000,000 has been extended to Samsung for their job creation. In addition, Samsung has been offered a $20,000 Veteran Created Job Bonus.   

The article concludes:

Indeed, The Wall Street Journal reports that firms across the globe are racing to produce more semiconductors:

Samsung’s doubling down on Texas where it already has a footprint comes amid a year of historic spending for the semiconductor industry, spurred by government incentives seeking to attract local production. A global chip shortage has undercut many industries from smartphones and home appliances to cars.

Samsung, the world’s largest semiconductor maker by revenue, plans to invest more than $205 billion over the next three years, with chip-making a priority. Taiwan Semiconductor Manufacturing Co. has earmarked more than $100 billion over the next three years to build new chip factories. Intel Corp. has also unveiled more than $100 billion worth of semiconductor factory investments plans in the U.S. and Europe over the coming decade.

Tesla CEO Elon Musk said earlier this year that he has “never seen anything like” the semiconductor shortage.

“Our biggest challenge is supply chain, especially microcontroller chips,” Musk said on social media, comparing his company’s decision to “overorder” various products to the “toilet paper shortage” that occurred at the outbreak of COVID-19 in the United States.

Bringing industry back to America will help America economically and will add to our national security. To have outsourced computer chips and pharmaceuticals to countries that are not our allies is foolishness.