Oracle Adds Third Office in Austin
- Nov 08, 2013
The property located at 7700 W Parmer Lane in Williamson County will accommodate Oracle’s new office building. The structure is currently occupied by Freescale Semiconductor Inc., which announced it would relocate its operations to South Austin by the end of 2013.
According to Oracle’s website, the company currently maintains offices in Northwest Austin at 9600 N MoPac and 5300 Riata Park Court. Oracle America Inc. intends to create 200 new jobs for a new 50,000-square-foot office, an investment estimated at $5.4 million. The expansion is meant for the sales and marketing departments.
Williamson County commissioners authorized an economic development agreement with Oracle to deduct 50 percent of the company’s incremental real and personal property revenues over the next seven years, starting with tax year 2014.
“By helping companies to choose to come to Williamson County, they’re hiring many of those folks [who] already live here,” Precinct Two Commissioner Cynthia Long says.
Precinct One Commisioner Lisa Birkman added that “half of the 200 new jobs will be hired in 2013 and the rest by 2017,” adding that the “average annual salary will be $66,000.”
The Greater Austin Chamber of Commerce supported the expansion through their Opportunity Austin initiative, designed to foster job-creating investment in Central Texas.
“We are grateful that Oracle has decided to further its growth and investment in Austin, and look forward to continuing our mission to build a strong future for our residents and businesses,” says Gary Farmer, chairman of Opportunity Austin and president of Heritage Title Company of Austin Inc.
Governor Rick Perry’s office announced that Oracle would get $1 million for this investment. The amount will be provided from the state’s Texas Enterprise Fund, a business incentive fund used for ensuring the growth of business in Texas.
“We’ve enjoyed building a home in Austin, and now, as the second-largest software company in the world, [we] are looking forward to continued growth and success in Central Texas,” says Randy Smith, Oracle’s vice president of global real estate and facilities.