Moving on Out

by | Dec 18, 2020

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Silicon Valley is the world’s tech headquarters. At least for now. 

Computer software company Oracle is moving its headquarters to Texas. The tech giant is following Tesla in a pattern of tech companies heading for a land of lower taxes and cheaper cost of living. 

The company says this means that many of their employees can choose their office location as well as continue to work from home part-time or all of the time. According to Bloomberg, the shift to Texas started in 2018 when Oracle opened a campus in Austin with an on-site apartment building for employees. 

In 2019, the company announced that its annual conference, OpenWorld, will move from San Francisco to Las Vegas. 

Experts say these moves from Tesla and Oracle show how much of an impact taxes and public policy can affect corporate decision-making. Plus, when your bank account has a lot of digits, Texas can be very appealing. Texas has no personal income tax while California is among the highest in the nation. 

Wonder who will be calling U-Haul and moving out next?

Brian Banmiller

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.

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