Oracle is Moving to Texas as California Exodus Continues

Oracle has announced on Friday that the company will be moving to Texas becoming yet another corporation to flee California.

Oracle is Moving to Texas as California Exodus Continues

Oracle has announced on Friday that the company will be moving to Texas becoming yet another corporation to flee California.

The company disclosed the move in a filing posted to the Securities and Exchange Commission late Friday.

An Oracle spokesperson stated that the new headquarters in Austin will put the company in a better position for growth while providing personnel flexibility during the pandemic.

Earlier this month, Hewlett Packard Enterprise had also announced it plans to move its headquarters to Houston in Texas, and just this past summer, Tesla agreed to move its new facilities to Austin.

Oracle will also be joining Charles Schwab as strict lockdown measures and high taxes are driving out the California’s biggest earners.

Earlier this week Musk derided California for creating the corporate exodus, saying that the state is too used to winning and has grown complacent.

Texas Governor Greg Abbott (R-Texas) praised Oracle’s decision to make the move while commenting on the recent windfall of businesses his state is so to claim.

This has turned into an absolute tidal wave,” Abbott said. “Remember, we just had the announcement about Hewlett-Packard Enterprise and we also just had the announcement of Fortune-500 company CBRE moving its headquarters to Texas.”

Cost of business means a lot… No income tax means a lot, but also the freedom to operate without the heavy hand of regulation means a lot.

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