March 2, 2021

Volume XI, Number 61

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March 02, 2021

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March 01, 2021

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Oracle Joins “Texit” – The Growing Exodus From California to Texas

Joining Tesla, Hewlett-Packard and Charles Schwab, Oracle, the world’s largest database management company, has announced that it will move its corporate headquarters from California to Texas.  “We believe these moves best position Oracle for growth and provide our personnel with more flexibility about where and how they work,” the company said in its SEC filing.  In 1977, Larry Ellison co-founded Oracle with Bob Miner and Ed Oates in Santa Clara with just $2,000 in seed money.

In just the past decade, more than 13,000 businesses have left the Golden State for better business climates (they’re increasingly going to Texas).  The reasons most frequently cited for relocating are:  California’s highest-in-the-nation income tax rates, greatest regulatory burden and litigation risk along with the third-highest cost of living (after Hawaii and the District of Columbia).

 

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© 2020 Proskauer Rose LLP. National Law Review, Volume X, Number 363
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About this Author

Anthony J Oncidi, Employment Attorney, Proskauer Rose Law Firm
Partner

Anthony J. Oncidi heads the Labor & Employment Law Group in the Los Angeles office. Tony represents employers and management in all aspects of labor relations and employment law, including litigation and preventive counseling, wage and hour matters, including class actions, wrongful termination, employee discipline, Title VII and the California Fair Employment and Housing Act, executive employment contract disputes, sexual harassment training and investigations, workplace violence, drug testing and privacy issues, Sarbanes-Oxley claims and employee raiding and trade secret protection....

310-284-5690
Associate

Kristina Sidrak is an associate in the Labor & Employment Law Department and a member of the Employment Litigation & Arbitration Group. 

310-557-4518
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