After Tesla, Oracle moves headquarters to Texas calling it the 'best position for growth'

American multinational computer technology corporation, Oracle Corporation on December 11 said that it is shifting its headquarters from Silicon Valley to Austin, Texas in the United States. As per reports, the company is also giving its employees the option to choose between both the office locations or if they want to work remotely from their homes. Oracle Corp. reportedly said that it will keep the major hubs at Redwood City, California along with other locations. 

In a regular filing, the business software maker said, “We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work.”

However, Oracle Corp. decided to move headquarters just when Tesla CEO Elon Musk announced that he had moved to Austin after denouncing California officials for restrictions that were introduced amid the COVID-19 pandemic. Meanwhile, Texas Governor Greg Abbott touted Oracle’s decision.

“Oracle just announced they have moved their headquarters to Austin,” Abbott said on Twitter. “Texas is truly the land of business, jobs, and opportunity. We will continue to attract the very best.”

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Musk says California became ‘less accommodating’

Elon Musk on December 8 revealed that he had relocated to Texas from California, where he plans to focus more on the new Tesla plant and his SpaceX venture. Back in May, Musk had threatened to move his electric car company to Texas, from California, where he has feuded with local officials about coronavirus restrictions.

Now, while speaking at a conference hosted by The Wall Street Journal, Musk said that California has become “less accommodating” to successful entrepreneurs and start-ups, comparing the state to a sports team that takes winning for granted. 

Musk said that California tends to get a little complacent, a little entitled, and then they don’t win the championship anymore. He also criticised California’s economic environment as another reason and said that the state “has been winning for a long time, and I think they’re taking it for granted”. Further, Musk even argued that Silicon Valley, which is home to some of the largest and most influential companies in the world, was declining in relevance. 

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Image: AP