Editor's take: Oracle's move is part of a broader trend that Axios notes has been accelerated by two Cs: California and coronavirus. Individuals and businesses alike are increasingly leaving California over tax concerns, overpopulation issues, the high cost of living there and more. Factor in strict pandemic-related measures and it's no wonder that some big names are going elsewhere.
In a filing with the US Securities and Exchange Commission on Friday, Oracle said it has moved its corporate headquarters from Redwood City, California to Austin, Texas and has implemented a more flexible employee work location policy. The changes, the company said, will provide personnel with more flexibility with regard to where and how they work.
BREAKING: Oracle just announced they have moved their Headquarters to Austin.--- Greg Abbott (@GregAbbott_TX) December 11, 2020
Texas is truly the land of business, jobs, and opportunity.
We will continue to attract the very best.
Hewlett Packard Enterprise said earlier this month that it'll be moving its headquarters to a new campus being built in Spring, Texas, just outside of Houston. The company at the time said Houston had long been their largest US employment hub as it is "an attractive market for us to recruit and retain talent, and a great place to do business."
Oracle's decision isn't all that surprising considering the company has been moving resources out of California since at least 2018. That year, Oracle opened a campus in Austin in hopes of recruiting fresh and affordable talent.
Masthead credit: josefkubes