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Newsmaker of the Year: Don Allen saw the future before Oracle - Nashville Business Journal
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May 4, 2021
Metro Council unanimously approved a $175 million economic incentive for tech giant Oracle to build a campus on the east bank of the Cumberland River, bringing to fruition a project years in the making.
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The Oracle project will bring 8,500 jobs with an average annual salary of $110,000. The company is committing to $1.2 billion in capital investment.
The project was approved despite 11th hour criticisms from Nashville s progressive community, which said the arrival of Oracle will trigger more gentrification in the surrounding community and stress the city s existing affordable housing problem.
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Mayor John Cooper said passage of the Oracle deal will help kick off Nashville s next decade of prosperity. The Oracle deal is believed to be the largest economic development project in Tennessee s history in terms of jobs.
Oracle to bring 8,500 jobs, invest $1.2 billion in Nashville
Oracle plans to create around 2,500 jobs in Nashville by the end of 2027. The 8,500 new jobs would have an average salary of $110,000. Author: WSMV Nashville Updated: 5:10 AM EDT April 15, 2021
NASHVILLE, Tenn Oracle Corporation announced Wednesday it has requested a public hearing for approval of an Economic Impact Plan with the Metro Industrial Development Board that would bring 8,500 jobs to Nashville, according to Mayor John Cooper s office.
Approval from the IDB and Metro Council is needed to finalize Oracle’s proposal to bring 8,500 jobs and a $1.2 billion investment to Nashville by the end of 2031. Oracle plans to create around 2,500 jobs in Nashville by the end of 2027. The 8,500 new jobs would have an average salary of $110,000.