Companies Leaving California
GlobalFoundries Leaves California for New York
GlobalFoundries left California for New York in 2021. The company employs approximately 12,830 people, though it is unclear how many were directly affected by the relocation.
In Buildremote's database of companies leaving California, GlobalFoundries is one of 2 companies that have moved to New York — 1% of our total database, and one of 60 that left (29% of all tracked departures) in 2021. GlobalFoundries is also one of 18 companies with 10,000+ employees to have left the state, accounting for 9% of all relocations in our database. By employee count, GlobalFoundries is the 16rd largest company to have left California in our database.
See all companies that left California in 2021 →
Moved To
New York
When
8/26/2021
Employees
12,830
Moved From
California
"“The original vision for this site was a billion dollar investment from New York State, Global Foundries would put $3.2 billion in and create 1,200 jobs. We stand here today, the state put their dollars in, global foundries put $15 billion in, and there are now 3,000 jobs here and growing.” CEO Caulfield said." — Source
Frequently Asked Questions
When did GlobalFoundries leave California?
GlobalFoundries left California in 8/26/2021.
Where is GlobalFoundries headquartered now?
GlobalFoundries relocated its headquarters to New York after leaving California.
Why Are Companies Leaving California?
Companies cite a consistent set of reasons for leaving California: taxes, regulation, and the cost of living. Executives have pointed to the ability to reduce state corporate tax rates by more than a third after relocating, and many describe searching for a "more sustainable place to do business." California's regulatory environment is frequently mentioned — in the state, "local rules could dictate how the company chooses board members, for instance."
Talent is another major factor. While California has long been a talent magnet, executives now describe finding "a great talent pool" in their new states — and the ability for employees to actually afford to live there. As one CEO put it, their employees can be homeowners in Texas, "which in the Bay Area is virtually impossible."
Others cite cultural reasons: an "increasing intolerance and monoculture of Silicon Valley," and a desire to find a state with "a strong economic climate with low taxes, reasonable regulations, and a high-caliber workforce." States like Texas, Florida, and Arizona have actively marketed themselves as alternatives — Arizona, for instance, offering "the ideal conditions of being business-friendly, offering a high quality of life at reasonable cost."
For many companies, the decision comes down to practical business needs: "our business needs, opportunities for cost savings, and team members" — and an acknowledgment that there were "some symmetries in the way that the Bay Area works that just didn't really work well for us."
Buildremote Research
Companies Leaving California — The Complete Database
Every company that has left California since 2020. Destinations, dates, employee counts, and sources — all in one spreadsheet.
Related California Research
Want to track the entire trend of companies leaving California since 2020? See the statistics and notable companies who have left. Or, access the entire database of 207+ companies.
Discuss GlobalFoundries's Move
Data compiled by Buildremote. Last updated April 23, 2026. Sources linked above.