Samsung's Departure Is a Wake Up Call for Bergen County

Here we go again. Samsung's decision to leave Bergen County and relocate to Texas serves as yet another warning sign that our county is losing its competitive edge in attracting and retaining major employers. Approximately 1,000 high-paying corporate jobs are being lost. These are not entry-level positions. They are executive, management, engineering, technology, finance, marketing, and other professional jobs that generate substantial tax revenue, support local businesses, and strengthen our communities.

Unfortunately, Samsung is not the first major employer to leave Bergen County in recent years. Mercedes-Benz USA moved its headquarters from Montvale to Atlanta, taking approximately 1,000 jobs with it. Hertz relocated its global headquarters from Park Ridge to Florida, moving hundreds of jobs out of Bergen County. Sealed Air also moved its corporate headquarters from Elmwood Park to Charlotte, North Carolina, resulting in the loss of numerous corporate and administrative positions.

Taken together, these departures represent the loss of thousands of high income corporate positions over the last decade. Beyond that they represent not only lost jobs but also lost purchasing power, lost tax revenue, reduced charitable giving, and fewer opportunities for young professionals who want to build careers without leaving Bergen County..

Bergen County benefits from its proximity to New York City, a highly skilled workforce, and excellent schools. Yet corporations continue to conclude that other states offer a better environment for business, growth, and investment .

Samsung's departure should be viewed as a call to action. Going forward, Bergen County needs to create a formal Corporate Retention Program, within the Division of Economic Development, that regularly engages major employers before relocation decisions are made. Additional measures need to include streamlining permitting and regulatory processes that are making expansion projects slow and costly, and expanding public private partnerships that support workforce development, technology innovation, and business growth. We must also recognize that retaining existing businesses is often more cost effective than spending years trying to attract new ones.

Samsung's departure is not an isolated incident; it reflects a broader trend that threatens Bergen County's economic future. Unless we address the factors driving businesses to relocate, Samsung will not be the last major employer to leave. The cost of inaction will be measured not only in lost jobs, but also in lost opportunities for future generations of Bergen County residents.

John Dinice
Candidate for Bergen County Commissioner