Samsung Electronics America moved into its 325,000-square-foot headquarters at 700 Sylvan Ave. in Englewood Cliffs last fall, backfilling the former Unilever U.S. corporate office. — File photo / Courtesy: Samsung
By Joshua Burd
A high-profile office campus in Englewood Cliffs will be vacated for the second time in two years, with Samsung Electronics America reportedly set to move its headquarters to Texas.
According to multiple outlets, the technology giant has told employees it will shift operations to Plano, where it already has multiple divisions. That means most of the roughly 1,000 workers at 700 Sylvan Ave. in Englewood Cliffs will be reassigned to the new headquarters, according to The Asia Business Daily and other reports, a decision that would come just a year after Samsung moved into the sustainably designed, 325,000-square-foot campus while pledging to build strong ties with local officials and residents.
The company has called New Jersey home for more than 40 years, making the news especially tough to swallow for the business community. That included more than three decades in Ridgefield Park before it opted to move to the former Unilever U.S. corporate office in Englewood Cliffs, giving the building new life after the latter moved to downtown Hoboken.
Reports say a small number of Samsung employees will remain in New Jersey to support local operations.
“We are preparing for the relocation with the goal of completing the move within this year,” a company official told The Korea Times, speaking on the condition of anonymity. “After a thorough review, we will finalize plans for headquarters operations and workforce allocation.”
The Asia Business Daily noted that Plano already houses the office responsible for Samsung’s mobile and network businesses, adding that the company also has a semiconductor plant in Austin and a new foundry plant coming online in nearby Taylor. The report cited Texas’ growing appeal to businesses due to tax benefits and lower real estate costs, perks that have attracted the likes of Tesla and Oracle in recent years.
Longtime critics of New Jersey’s business climate were quick to voice their frustration.
“Today’s announcement from Samsung less than a year after it opened its new New Jersey headquarters, and on the heels of Exxon’s recent corporate departure from the Garden State after 144 years, is not surprising, but it is no less sad,” said Michele Siekerka, CEO and president of the New Jersey Business & Industry Association. “These are the results of decades of anti-business policies in the state. With New Jersey maintaining the highest corporate tax rate in the nation, by far, and its national reputation for business unfriendliness through regulation and other costs and burdens, we have seen our Fortune 500 companies go from 22 in 2018 to 15 in 2025.
“These are not accidents, nor are they coincidences. However, this is also an opportunity. Governor Sherrill has signaled the need and want to improve our business climate, to reduce costs, red tape and other permitting and regulatory burdens. We believe there is a reason to be optimistic.”
