Considering all the corporations that have moved or are moving to the Austin area, it’s a strong indicator that it’s the place to be. The big one is Tesla, which is building a Gigafactory on a 2,100-acre site. ENF Technology is investing $45 million in its U.S. headquarters, which is right here in Kyle. Lowe’s Company Inc., a home improvement retailer, plans to add a distribution center in Kyle Crossing Business Park.
And now California-based Oracle is jumping on the Austin bandwagon. It’s departing Silicon Valley for the Texas Hill Country.
What draws these companies to Austin? It’s quickly becoming a tech hub and housing is far more affordable than it is in California and other places. And best of all, Texas has no state income tax.
Creating a Flexible Workplace
Oracle is a cloud and software services provider that employs 135,000 people all over the world. What’s interesting is the company has a flexible work policy for employees. This means they can choose their office location, continue remote working, or do a hybrid. “By implementing a more modern approach to work, we expect to further improve our employees’ quality of life and quality of output,” the company said.
This isn’t the company’s first foray into Austin. In 2018, it opened a campus with an on-site apartment building for employees. Located at 2300 Oracle Way, the purpose of the campus was to recruit a younger and more affordable workforce. The campus can support up to 10,000 employees. It’s unknown how many jobs the move to Austin will bring.
The company plans to maintain a presence in Redwood City, Santa Monica, Seattle, Denver, Orland, and others.
Oracle’s History
Engineers Larry Ellison, Bob Miner, and Ed Oates founded the company in Santa Clara in 1977. Initially called Software Development Laboratories, their first office was only 900-square-feet. In 1982, the company changed its name to Oracle Corporation. In fewer than 10 years after its founding, the company joined the NASDAQ exchange as the company went public under ORCL.
By 1989, the company outgrew its headquarters and headed to Redwood City, California. In 2010, the company acquired Sun Microsystems, the creators of Java. This move has allowed the company to bridge hardware and software. We look forward to seeing what they achieve in Austin.
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