AUSTIN | Economic Development

[clubtokyo]

That's great news!

[freerover]

Tesla removes itself from Austin ETJ freeing it from the limited environmental regulation it was subject to.

https://www.bizjournals.com/austin/n...source=twitter

[ATX2030]

$120M industrial project rises in tiny city outside Austin

No matter how small, every city in the region is being hit by the development wave

https://www.bizjournals.com/austin/n...or-austin.html

Justin Sayers – Senior Staff Writer, Austin Business Journal
Apr 23, 2024

...Nearly two years after purchasing the site, March Capital Management — in partnership with Deutsche Finance America, the Denver-based real estate private equity platform of the Munich-based Deutsche Finance Group — broke ground this month on a $120 million, 900,000-square-foot, five-building industrial park it's calling 45 Logistics South. The goal is to deliver the first two buildings, totaling about 400,000 square feet, by the start of next year's third quarter...

The amount of industrial space being added to the region is impressive!

[The ATX]

The Tesla layoffs in Austin ended up being around 12% at almost 2.7K.

[Armybrat]

Originally Posted by The ATX

The Tesla layoffs in Austin ended up being around 12% at almost 2.7K.

My youngest son still has his job at the Gigafactory.
He is one of the first 500 employees at that facility, so maybe he’ll survive another round or two of layoffs if they occur.
We are keeping our fingers crossed for him.
He loves his job down there.

[The ATX]

Oracle is moving it's HQ to Nashville.

https://www.cnbc.com/2024/04/23/orac...nashville.html

[LiveattheOasis]

Originally Posted by The ATX

Oracle is moving it's HQ to Nashville.

https://www.cnbc.com/2024/04/23/orac...nashville.html

Hate hearing this. Did some research and realized Resideo moved its HQ to Arizona as well.

Samsung news and the Tesla/Oracle news. Rollercoaster few weeks.

[ATX2030]

Originally Posted by The ATX

Oracle is moving it's HQ to Nashville.

https://www.cnbc.com/2024/04/23/orac...nashville.html

Gravitating more towards health care industry. Huge get for Nashville.

[The ATX]

Here's an X post with info about Flex(tronics) possibly moving their HQ here in the past couple weeks. They are currently a Global 500 company.

https://twitter.com/TheATX1/status/1781454137042833575

[Novacek]

Originally Posted by The ATX

Oracle is moving it's HQ to Nashville.

https://www.cnbc.com/2024/04/23/orac...nashville.html

I’m not saying it’s not happening it can’t happen, but “ultimately” reads a little weak to me.

He’s at a health care forum in Nashville, talking to a Tennessee senator, and it’s only “ultimately”

It’s like Amazon and their planned headquarters in NY.

[ILUVSAT]

It's all about incentives and other tax abatements. If they move, that is why. Also, the "loss" will only be in perception. Can anyone tell me what changed in Austin when the HQ "moved" there?

Oh, neither Ellison nor Oracle's CEO ever moved to Austin. A lot of their executives are still in California. The HQ move a few years ago was to get out of CA's taxations. I bet the State of Tennessee is throwing the moon at them to move to Nashville. And, I know their new campus in downtown Nashville received a ridiculous amount of kick backs.

[drummer]

We discussed Amazon when they were on their country-wide HQ2 search. Sometimes the benefits that companies are seeking/expecting aren't worth it. Sometimes they are. Things come and go. Still sucks to lose them, but that's why a diversified economy for our metro and state is a good thing.