Tech CEO Announces Company’s Relocation to U.S.: ‘Make America Home Again’

• November 2, 2017 2:13 pm


President Donald Trump on Thursday hosted Hock E. Tan, CEO of the tech company Broadcom Limited, at the White House, where Tan announced his company would "make America home again."

Tan touted his and Broadcom's deep ties to the U.S. and credited Trump with creating conditions for the globalized company to relocate to the U.S. from Singapore. Broadcom manufactures semiconductors and makes $20 billion in annual revenue that will soon be legally situated in Delaware.

"Our commitment to redomicile into the United States is a huge reaffirmation—to our shareholders and to the 7,500 employees we have across 24 states in America today—that America is once again the best place to lead a business with a global footprint," Tan said.

Tan pointed to difficult conditions for running a business as the reason Broadcom had moved overseas, but he said the company's identity has remained American.

"In eras past, when the conditions in this country made it harder for companies to compete in global markets, the intellectual property of these leading companies globalized and moved offshore," Tan said. "But I am an American as are nearly all my direct managers, my board members, and over 90 percent of my shareholders, so today we are announcing that we are making America home again."

Trump and Tan also shared a warm moment when the tech CEO said his mother could never have imagined him in the Oval Office. The president leaned on his shoulders to say, "And my mother, too."

Tan also spoke about the value of the American dream, which he experienced coming to the U.S. from Malaysia to study at MIT, which he called the best engineering school in the world.

"My appearance here today, in large part, has been inspired by my desire to give back to this country which I have received so much from," Tan said.

Later in his remarks, Tan also said Broadcom's presence in the U.S. would entail annual investments of $3 billion in research and engineering, as well as $6 billion in manufacturing. This would create "high-paying tech jobs," Tan said, and he pointed out Broadcom employees from Pennsylvania who were with him at the White House. He also expressed his support for Republicans' tax reform plan, although its passage will not affect Broadcom's move.

Published under: Economy, President Trump, Tax Reform