Oracle leaves Silicon Valley for Texas

Enterprise computing giant Oracle said Friday it will leave Silicon Valley for Texas as it embraces a remote work model made common by the pandemic.

“We believe these moves better position Oracle for growth and give our people more flexibility on where and how they work,” Oracle said in response to an AFP query.

“Depending on their role, this means that many of our employees can choose their office location and continue to work from home part-time or full-time.”

Oracle will move its headquarters from Redwood Shores in Northern California to Austin, which has long attracted tech companies and is home to the South by Southwest Festival, which has an “interactive” part dedicated to Internet innovations.

“Another day, another global giant is moving to Texas,” said state Governor Greg Abbott in a tweet.

“Welcome to the Lone Star State, @Oracle HQ!”

Oracle has offices in a variety of cities in the United States, including Austin.

News of Oracle’s move comes as internet companies that have been allowing workers to do their jobs remotely due to the pandemic adopt the practice, freeing them up to hire people who live far from offices and leave to companies less tied to Silicon Valley campuses.

Businessman Elon Musk confirmed his move to Texas this week.

Tesla co-founder and CEO Musk said he left California after a heated dispute earlier this year with local authorities, who ordered the closure of one of their car factories to stop the spread of Covid-19. .

Texas also offers a lower cost of living and no state income tax, which may appeal to both Oracle and South Africa-born Musk, 49, who surpassed Bill Gates to become the second-richest person in the world. world last month when Tesla shares hit. increasing heights.

Musk justified the move by saying he needed to get closer to two of his biggest projects: the development of rockets by his company SpaceX in the southern part of the state and the construction of a Tesla car plant near the state capital Austin.