Software giant Oracle moved the headquarters of the organization from Redwood City, California to Austin, Texas, reported Bloomberg, the newest tech company to leave for the Lone Star State in Silicon Valley.
Oracle did not respond immediately to a request for comment Sunday, but told CNBC that it was putting in place “a more flexible work location policy for employees,” and that the move to Austin will be “Oracle’s best position for growth and provide more flexibility for our staff about where and how they work.”
Established in 1977, Oracle is one of the older Valley tech firms and is a staple of the area; the San Francisco Giants play at Oracle Park, and its well-known cylindrical structures are featured on the company’s Redwood City campus.
It also has an Austin campus, which it unveiled in 2018. “In a tweet, Texas Gov. Greg Abbott announced the news, saying “Texas is truly the land of industry, jobs, and opportunity.
In recent months, numerous other companies have announced plans to leave California, with some company leaders citing the political environment of the state as unfriendly to industry.
Tesla is constructing a new plant near Austin and CEO Elon Musk has threatened to fully relocate the company out of California after battling over coronavirus lockdowns with local authorities, but Tesla still has a plant in Fremont. Musk said that he had also relocated his personal residence to Texas.
And another company in Silicon Valley, Hewlett Packard Enterprise, unveiled plans earlier this month to construct a 440,000-square-foot campus for its new headquarters in a Houston suburb. In Austin and Plano, near Dallas, HPE also has Texas locations.