Maryland dropped the ball - and dropped the call - on one of the biggest corporate headquarters relocation sweepstakes of 2026. South Korean technology giant Samsung is fleeing New Jersey after locating its U.S. headquarters there nearly 40 years ago. Up for grabs were not only the prestige of having the HQ of a conglomerate with fifth-highest brand value of any company in the world, but also 1000 high-wage jobs. You would expect Maryland, which hasn't attracted a single new major corporate headquarters in over a quarter century, to pull out all the stops to lure Samsung to the state. But you would be wrong: Samsung is instead moving its HQ to Plano, Texas.
How hard did Montgomery County and Maryland try to win the game? We don't know, because neither discussed their desire or strategy to win over Samsung publicly. We know Maryland Governor Wes Moore was in touch with executives of a Samsung biotech division when he traveled to South Korea on a trade mission in 2025. Those conversations played a role in Samsung Biologics agreeing to take over a Montgomery County manufacturing facility that was likely to close otherwise. Was Moore able to tap into those contacts during this year's HQ competition? We don't know.
What we do know, is that Montgomery County and Maryland again reaped the whirlwind of failing to get themselves into fighting shape for economic development. While the Maryland tax burden is less than New Jersey's, it cannot remotely compete with Samsung's choice of Texas. The Lone Star State has no individual or corporate income tax. Maryland, whose leaders chose to close 8 power plants and implement "clean" power mandates and a Communist EmPOWER surcharge on electric bills, can no longer generate enough power and is forced to import electricity at higher "boardwalk prices." As a result, energy costs in Texas are literally half of those in Maryland.
Those two factors alone were likely enough to convince any intelligent executive to choose Texas over Maryland. But wait - there's more.
Texas has superior highway and air travel infrastructure. Dallas Fort Worth International Airport is closer by car to Plano than Montgomery County is to Dulles International Airport, thanks to Montgomery County and Maryland officials actively blocking construction of a long-planned Potomac River crossing to the Dulles area.
There's also no contest when it comes to private jet travel. Business executives can travel to international destinations like London and Mexico City from Addison Airport, located only 12-17 minutes from Plano. Such jaunts are not possible from the Montgomery County Airpark, which cannot accommodate larger business jets. Addison has customs facilities; Montgomery County Airpark does not. Addison boasts 3 Fixed-Base Operators providing fueling, minor maintenance, deicing, and baggage handling; flight crew resources and facilities such as flight plan and weather rooms and crew lounges; and luxury VIP passenger lounges, secure parking, and corporate sedan/limousine ground transportation coordination. MCA has one FBO, which is limited to fueling and hangar storage, and does not offer luxury facilities or amenities.
Finally, Texas is a Right to Work state and has a far-cheaper cost of living than Maryland. This means lower overall labor costs, and the lower cost of housing and everything else helps to attract the best and brightest to Texas.
Texas has a whopping 57 Fortune 500 corporate headquarters. Maryland has...3. Womp womp.
"Texas is the undisputed headquarters of headquarters," Texas Governor Greg Abbott said in a (under)statement earlier this week.
If Texas is so great, how about you move there? Let the invisible hand carry you to away from the state you so obviously loathe.
ReplyDeleteBtw, overall tax burden is Texas HEAVILY skews hard onto middle and upper-middle income workers because while they have no income tax, they have a heavily regressive scheme that only benefits a few high salaried executives.
I dont like your attitude
DeleteCould not agree more with this comment, the article author’s loathing of Maryland could easily be fixed by moving to Texas
DeleteI already did Move to Texas. I have a brother in Conowingo so I an make a direct comparison. Much better and cheaper down here.Property tax and sales tax are not regressive taxes. Those rich people you hate are already paying more because their homes are valued higher.
DeleteStrange comment.
DeleteThis article is getting well roasted at r/Maryland.
ReplyDeleteLOL! Texas sucks in all kinds of ways. Been here too long, want to head back to Maryland.
ReplyDeleteTexas also sucks to live in. So there’s that.
ReplyDeleteWhat blue state do you live in?
ReplyDeleteI don't think Wes Moores interested in bringing business into Maryland, he's too busy fighting with President Trump and destroying Maryland.
ReplyDeleteCouldn't all you left wing ding dongs move to Austin? Aren't they kind of Commie there?
ReplyDeleteSomeone in Montgomery County decided to remove all of the trash cans at Ride on bus stops,probably to save money, now people just throw their trash all over the ground. 😆 both the large standing trash cans and the small cans which were bolted onto the the Ride on signs have been removed. Brilliant planning here in the County.
ReplyDeleteCongratulations you have a new job. Now don't be late for work.
ReplyDeleteSome in comments see this as Maryland hating. It’s not hate. I love Maryland. I was born in DC and lived most of life in Montgomery Co. I have to admit, Montgomery is getting in increasingly intolerable. Our leaders seem to do whatever they can to throw sand into the gears of an economic engine. Samsung, Amazon, Boeing…remember Discovery? All these firms chose elsewhere. How many jobs were possible? How many support related small businesses could have created? Last thing I’ll say; I remember 25-30 years ago, Tysons Corner was on par with Bethesda/Rockville. Compare them today.
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