Gov. Rick Perry announced Oracle is expanding its operations in Austin, establishing an additional office and creating 200 jobs. The company plans to invest $5.4 million in the project. The state is providing $1 million through the Texas Enterprise Fund (TEF) to close the deal on this expansion and job creation. Execution of the state's agreement is contingent upon finalization of a local incentive offer as required by program criteria.
"The Texas model of success, centered on low taxes, smart regulations and fair courts, helps us remain a national leader in job creation," Gov. Perry said. "Businesses looking to expand or relocate their operations continue to look to Texas, thanks to our commitment to conservative economic principles and our track record of success. The TEF's investment in Oracle will help bring hundreds of jobs and opportunity to Texas families and stimulate the local and state economy."
"We are expanding our presence in Texas because we've been impressed with the quality workforce and growth opportunities here," said Oracle Vice President of Real Estate and Facilities Randy Smith. "With this new investment we will be better equipped to meet customer demand while bringing new technology jobs to the state of Texas."
Oracle provides customers with hardware and software engineered to work together in order to meet their business needs. The company employs workers across Texas, including many based in Austin in sales, marketing, management, data center operations and software development roles. The new expansion will add sales and marketing personnel to Oracle's Austin workforce in order to support growth.
The Legislature created the TEF in 2003 and re-appropriated funding in 2005, 2007, 2009, 2011 and 2013 to help ensure the growth of Texas businesses and create more jobs throughout the state. TEF projects must be approved by the governor, lieutenant governor and speaker of the House. The fund has since become one of the state's most competitive tools to recruit and bolster business. To date, the TEF has invested nearly $506 million and closed the deal on projects generating 69,633 new jobs and more than $21.7 billion in capital investment in the state.
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