AUSTIN | Economic Development - Page 52

The ATX · #**1021** Posted **Dec 12, 2020, 1:09 AM**

Quote:

Originally Posted by N90

Oracle purchased property in Austin, I think near Riverside if I'm not mistaken and built the4 first building and is constructing the second one and always planned more buildings for future expansions. More construction from Oracle will come in due time. Their campus is huge and their vision for that campus is even larger.

The second building was completed. A third smaller building for employee amenities was approved and may also be completed. Their campus also includes an apartment building for employees. But they have additional land to build on across Elmont Dr., IIRC.

Jdawgboy · #**1022** Posted **Dec 12, 2020, 1:11 AM**

What's crazy is just in the last 7 days, from an economic standpoint, Austin has just shifted up to the next level globally!

The ATX · #**1023** Posted **Dec 12, 2020, 1:25 AM**

Quote:

Originally Posted by Jdawgboy

What's crazy is just in the last 7 days, from an economic standpoint, Austin has just shifted up to the next level globally!

I know. The Pandemic seems to be benefitting Austin in a big way. I just hope the music venues can make a strong comeback.

N90 · #**1024** Posted **Dec 12, 2020, 1:35 AM**

Oracle's HQ move to AUS also bodes well in AUS' pursuit of TikTok's Global HQ since Oracle and Walmart have ownership stake in the company. Walmart's tech division is based in the ATX too BTW. AUS chief competition for TikTok's HQ was DFW and to a slightly lesser extent London and Dublin but it seems likely that AUS is beginning to pull away from the pack now.

Exciting times for Austin. It's beginning to dominate.

We vs us · #**1025** Posted **Dec 12, 2020, 1:36 AM**

Interesting little nugs in this WSJ article. They note Larry Ellison's conservative leanings, and bundle him in with other conservatives who've left California. But they're also at pains to note that no one from the CA HQ will be forcibly reloed to Austin, and Ellison himself is mum on whether he'll move. They also note that Oracle's annual CA state tax bill is teensy compared to its other liabilities, so not really even a precipitating reason to move.

So . . . why make the move at all then?

https://www.wsj.com/articles/oracle-...as-11607724881

EDIT: also crossposted to the Oracle main thread.

N90 · #**1026** Posted **Dec 12, 2020, 1:39 AM**

Quote:

Originally Posted by We vs us

So . . . why make the move at all then?

Easier to attract tech talent to AUS than SF Bay due to more available supply of housing, not having to worry about as many other companies poaching top employees and talent, and an easier regulatory environment.

FWIW Drew Houston is very far left, so AUS appears to be attracting all types. Drew is also on Facebook's Board of Directors BTW.

N90 · #**1027** Posted **Dec 12, 2020, 1:45 AM**

Quote:

Sources have told Austin Business Journal that social media company TikTok, is considering Austin for a major office as well. Oracle has actually emerged as a potential minority investor in TikTok, along with Walmart Inc.

https://www.bizjournals.com/austin/n...alifornia.html

Quote:

Oracle is currently still in talks with Walmart, TikTok, and the U.S. government to acquire the U.S. operations of TikTok under a new company based in the country.

https://appleinsider.com/articles/20...rom-california

N90 · #**1028** Posted **Dec 12, 2020, 2:07 AM**

Another name to watch: Cisco

Rumors of their departure from CA too but no word on where they would go and when they would move. If they move.

N90 · #**1029** Posted **Dec 12, 2020, 2:12 AM**

Quote:

On a day when his company scored nearly $1 billion in an IPO and more than doubled in value, tech billionaire Tom Siebel offered some sobering thoughts about its home state.

"I think every responsible chief executive officer has to consider moving their company out of California," Siebel told the Business Journal. "If you're not considering that, you're not fulfilling your job for your shareholders and your employees."

Siebel didn't say he plans to move the headquarters of Redwood City-based artificial intelligence software maker C3.ai Inc., whose stock soared 120% in a New York Stock Exchange debut that gave it a market cap of nearly $9 billion.

But he wouldn't say he wouldn't either.

"I'm confident that every responsible chief executive officer is considering this," Siebel said. "My family is here and I love California so, for now, we're here. But there's not a dinner party that I go to where I see yet another job creator — some of them among the greatest job creators in history — leaving the state and taking their employees with them."

"If you bring somebody out here, a starter home is what? Four million bucks? A starter home in Austin is about $300,000," he said. "What's the income tax in Texas? Zero. When you are talking about hiring thousands of employees, like we are, from all over the world, where are they going to buy a house? Woodside? Palo Alto? Who can afford a house in those places? Almost nobody."

Siebel sees all of this as a major issue for the state.

https://www.google.com/amp/s/www.biz...xodus.amp.html

SproutingTowers · #**1030** Posted **Dec 12, 2020, 5:52 AM**

If you study how the new Apple campus is being setup one may think they may move the HQ there to avoid paying high CA taxes. I mean why would they need to build their own hotel on site?

ILUVSAT · #**1031** Posted **Dec 12, 2020, 3:22 PM**

^^^Doesn't Oracle's Riverside Austin campus have an on-site apartment complex (built by Oracle)?

N90 · #**1032** Posted **Dec 12, 2020, 3:29 PM**

It’s not just billionaires, companies, the middle class, or the lower incomes either;

https://www.google.com/amp/s/www.hol...e-pandemic-map

Hollywood people are moving too. James Van Der Beek is one example, he moved his entire family from LA to the ATX in October. There are many others as well.

California will be alright. They’ve got plenty going for them, tech, entertainment, agriculture, great weather, and great scenery but this year has been a huge blow to them in a myriad of ways. Texas like all 49 other states has taken a hit in the pandemic and recession too but somehow seems to be increasing its profile and dominance. Well Texas, Florida, Tennessee, and Nevada all are from what I can tell.

The ATX · #**1033** Posted **Dec 12, 2020, 4:57 PM**

Quote:

Originally Posted by ILUVSAT

^^^Doesn't Oracle's Riverside Austin campus have an on-site apartment complex (built by Oracle)?

They didn't build it, but it had just started leasing when Oracle decided to buy it.

BG918 · #**1034** Posted **Dec 12, 2020, 5:18 PM**

Quote:

Originally Posted by N90

Prolly, those with inside knowledge believe COS is the heavy frontrunner.

But my motto is take everything and leave nothing behind for rivals.

That’s a very Texan thing to say. IDGAF about anywhere but Texas.

N90 · #**1035** Posted **Dec 12, 2020, 7:36 PM**

Quote:

Originally Posted by BG918

That’s a very Texan thing to say. IDGAF about anywhere but Texas.

I’m not a Texan nor live there.

What I said was a lighthearted joke that obviously didn’t reach you. That’s not my actual motto, I don’t have a motto. Its just some joke line that I made up on the spot. Learn to take a joke and stop judging people and places.

the Genral · #**1036** Posted **Dec 12, 2020, 9:28 PM**

Quote:

Originally Posted by N90

I’m not a Texan nor live there

You are still coming though right? I'm from NY but consider myself a born again Texan. Its the greatest country on the planet.

N90 · #**1037** Posted **Dec 12, 2020, 9:40 PM**

Quote:

Originally Posted by the Genral

You are still coming though right? I'm from NY but consider myself a born again Texan. Its the greatest country on the planet.

Yes, I’m still coming in February.

I was supposed to move to the ATX this February but COVID-19 dashed my plans. It didn’t feel safe moving this year. So I renewed my lease here for another year. I’ve boxed all the things I need to send out to Austin and have found a place that I like out there. I’ll ship my furniture and boxed items out in the end of January and then the day after my lease ends in February I’ll be in Austin.

This chapter of my life in Atlanta is coming to an end soon and the next chapter in Austin is about to begin. I’m elated with the move. I can’t wait to be a part of the ATX community. Watching from afar only does so much.

clubtokyo · #**1038** Posted **Dec 13, 2020, 1:00 AM**

Austin welcomes you N90!

BG918 · #**1039** Posted **Dec 14, 2020, 1:58 AM**

Quote:

Originally Posted by N90

I’m not a Texan nor live there.

What I said was a lighthearted joke that obviously didn’t reach you. That’s not my actual motto, I don’t have a motto. Its just some joke line that I made up on the spot. Learn to take a joke and stop judging people and places.

I was born and raised in Texas (now live in CO) but the arrogance of many Texans (especially on this thread) is just too much. While seeing a place prosper economically is great and Texas has a lot to be proud of for creating an atmosphere that enables that growth, it is sad to see it at the expense of another state or a place like Austin getting all of these companies when places like St Louis and Detroit could use some of that. You’ll just create the same situation as California.

N90 · #**1040** Posted **Dec 14, 2020, 4:14 AM**

CNN did a coverage on these things

https://www.google.com/amp/s/amp.cnn...ami/index.html