ExxonMobil is reportedly leaving its New Jersey headquarters for Houston.
ExxonMobil is moving from New Jersey to its campus in The Woodlands, north of Houston, the company announced on March 10. The firm has worked from Texas headquarters since 1989, but its board of directors has voted to change its legal home to the Lone Star State.
“Over the past several years, Texas has made a noticeable effort to embrace the business community,” said ExxonMobil Chairman and CEO Darren Woods in a press release. “In doing so, it has created a policy and regulatory environment that can allow the company to maximize shareholder value.”
Texas already serves as the center of ExxonMobil’s executive leadership, research, and workforce, with the state hosting 75% of its employees in America and 30% of its employees worldwide.
“ExxonMobil’s connection to New Jersey is largely historical, dating back to the 1882 incorporation of Standard Oil of New Jersey,” the release reads. “The company’s Board of Directors has not held a meeting in New Jersey for more than 40 years.”
ExxonMobil closed down its 757-acre research facility in Hunterdon County, New Jersey, in May 2024, to consolidate operations in Houston, according to MyCentralJersey. At that point, the company had also announced it would close down another research facility in Canada.
“Aligning our legal home with our operating home, in a state that understands our business and has a stake in the company’s success, is important,” Woods said.
While deciding to move ExxonMobil’s legal home, the board considered Texas’ legal and regulatory environment, according to the release. This includes what leaders called “modernized business statutes” and the Texas Business Court, which resolves complex disputes quickly with “clear, statute based standards.”
Company leaders also expect the move will not affect business operations or shareholder rights.
“The Board determined that shareholder rights under Texas law are largely comparable to those under New Jersey law – and in some areas stronger,” the release reads.
Texas is quickly becoming a major financial hub of America.
Texas surpassed 3 million registered businesses in November 2025 – a historic milestone, as The Dallas Express reported at the time. Earlier that year, Texas had ranked the best state for business for the 21st year in a row.
Meanwhile, the Texas Stock Exchange plans to open in Dallas this year as an alternative to the New York Stock Exchange. Soon after, that exchange followed suit – announcing a branch of the New York Stock Exchange in Texas.
Nasdaq Texas launched on March 5 by ringing the closing bell at The Alamo in San Antonio, according to a press release. As The Dallas Express reported, the exchange will operate from a regional hub in Dallas.
When the exchange first announced its move, Gov. Greg Abbott applauded the decision. “Texas is the financial services capital of America,” Abbott said at the time. “With another financial exchange coming to Texas, Nasdaq Texas cements our state as a global economic leader and will help further grow our leading financial industry.”
