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DALLAS (WBAP/KLIF News) — Moving vans are creating caravans reminiscent of nineteenth century wagon trains between California’s Silicon Valley and Texas.
Less than two weeks after Elon Musk announced the move of his Tesla headquarters to Austin and Hewlett Packard announcing they’re relocating to Houston, San Jose computer technology giant Oracle is packing up their chips, gadgets and gizmos and headed to Austin.
Oracle creates cloud security systems among other high tech innovations. The company was co-founded by Larry Ellison 43 years ago. It’s part of the S&P 100 and employs 138,000 people.
In an opinion piece for Fox Business News, Chuck Devore cited “California’s increasingly burdensome regulatory climate” as reasons for the continuing industrial migration. He explains, “California has the nation’s highest income tax rate, 13.3 percent, and businesses save, on average, 32 percent of their operating costs by moving from California to Texas.”
Read the original piece here: https://www.foxbusiness.com/economy/oracle-california-texas-silicon-valley
