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The $675M Exodus: Why Major Corporations Are Ditching New Jersey

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The Hidden Cost of New Jersey’s Corporate Exodus: 7,000+ Jobs and $675M in Payroll Gone

the staff of the Ridgewood blog

Trenton, NJ — When a major corporation packs up and leaves the Garden State, headlines usually focus on the immediate layoffs. But a startling new report reveals that the true economic damage runs far deeper, cutting straight into local school budgets, property values, and community infrastructure.

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A Huge Blow to NJ: Samsung Relocating U.S. Headquarters to Texas, Leaving 1,000 Local Jobs in Limbo

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Sun Belt Exodus: Samsung Abandons New Bergen County HQ for Texas After Less Than a Year

the staff of the Ridgewood blog

Englewood Cliffs NJ, In a massive blow to the Garden State economy, consumer electronics giant Samsung Electronics Co. has announced plans to relocate its U.S. subsidiary headquarters from Englewood Cliffs, New Jersey, to Plano, Texas.

The shocking announcement, delivered to employees on May 29 and officially confirmed on June 1, comes less than a year after state and local officials celebrated the grand opening of the company’s multi-million dollar Englewood Cliffs facility on September 22, 2025.

Continue reading A Huge Blow to NJ: Samsung Relocating U.S. Headquarters to Texas, Leaving 1,000 Local Jobs in Limbo