Broadcom moving from Singapore to US as tax reform brews
The supplier of microcomponents like wireless charging chips, modems and other PCB parts has made the move in preface to expectations that legislators will muster a comprehensive tax reform bill with lower rates for corporations and sign it into law.
“America is again the best place to lead a business with a global footprint,” said CEO Hock Tan at a press conference. “Thanks to you Mr. President, business conditions have steadily improved.”
Trump mentioned that he hopes to see Broadcom’s US payroll grow from its current 7,500 employees. The company will retain headquarters in Singapore and San Jose, California.
Silicon Valley hopes that tax reform will enable them to repatriate foreign earnings without having to pay inbound tariffs. Apple is chief in the industry with over $230 billion cash posited outside the United States.