Samsung Heads South, Leaves New Jersey for Texas

More than 300 companies moved to Texas in the past decade, taking advantage of its location and transit networks, not to mention no state income tax.

The logo of the Samsung Electronics Co. at its office in Seoul, South Korea, on Jan. 31, 2023. Ahn Young-joon/AP Photo

Samsung has become the latest company to leave the Northeast and head south.

On June 1, the South Korean technology company announced that its U.S. headquarters would leave its current location in Englewood Cliffs, New Jersey, for Plano, Texas, by the end of this year. This follows a recent move by Exxon, which shifted its legal domicile from New Jersey to Texas.