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Oracle lured to Texas by lower payrolls, labor pool
Nico Grant, Bloomberg
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Oracle Corp. headquarters in Redwood City, Calif.Bloomberg photo by David Paul Morris
Oracle Corp. s surprise decision to shift its headquarters to Texas from California marks a strategic realignment for the Silicon Valley stalwart that s likely to yield long-term financial benefits like lower payroll costs and the potential to more easily recruit future employees.
The world s second-largest software maker said last week that it would no longer designate its longtime base in Redwood City as its main office, ending an era for a company that helped define the technology industry through the 1980s and 90s. The embrace of Texas seems designed to curtail costs over time, in contrast to the San Francisco Bay area, which has grown increasingly expensive for corporate payrolls and individuals.
Oracle lured to Texas by lower payrolls and labor pool
Nico Grant, Bloomberg News VIDEO SIGN OUT
Oracle Corp.âs surprise decision to shift its headquarters to Texas from California marks a strategic realignment for the Silicon Valley stalwart thatâs likely to yield long-term financial benefits such as lower payroll costs and the potential to more easily recruit future employees.
The worldâs second-largest software maker said last week that it would no longer designate its long-time base in Redwood City as its main office, ending an era for a company that helped define the technology industry through the 1980s and 90s. The embrace of Texas seems designed to curtail costs over time, in contrast to the San Francisco Bay Area, which has grown increasingly expensive for corporate payrolls and individuals.
FAIRFIELD-SUISUN, CALIFORNIA
Jon Talton: Austin is winning recruits among the tech elite, but that’s not Seattle’s biggest danger [The Seattle Times]
Dec. 18 Civil War Gen. Philip Sheridan famously said, “If I owned Texas and Hell, I would rent out Texas and live in Hell.”
The situation has obviously changed.
Not only is Dallas a major corporate center and Houston, the nation’s fourth most populous city, the capital of the oil industry, but Austin is a rising tech star.
Austin’s ascendency was emphasized recently when software powerhouse Oracle said it would move its headquarters there from Silicon Valley.
Oracle Moves Headquarters to Texas, Joining Valley Exodus The move comes amid Oracle’s drive to shed costs during a transition from traditional software to cloud computing. Bloomberg | Dec 14, 2020
(Bloomberg) Oracle Corp., a Silicon Valley stalwart, has moved its headquarters to Texas, becoming the latest technology company to leave its home state in the face of California’s higher taxes, steeper cost of living and a broader shift to remote work.
The move to Austin from Redwood City “means that many of our employees can choose their office location as well as continue to work from home part time or all of the time,” Oracle said Friday in a regulatory filing. The company will continue to support its former headquarters and other U.S. offices in Santa Monica, California; Seattle; Denver; Orlando, Florida; and Burlington, Massachusetts, according to the filing.