With SAP competitor Oracle, another heavyweight in the tech industry is moving from Silicon Valley to Texas. Oracle announced on Friday that the headquarters had been relocated to the city of Austin. It is hoped for better growth prospects and more flexibility for employees.

Wave of emigration from Silicon Valley At the beginning of the month, the IT group HPE (Hewlett Packard Enterprise) announced that it would turn its back on its home in Silicon Valley and move to Houston, Texas. There the company already has its largest employment focus in the USA. Houston is an attractive location to attract future employees. A new company headquarters is currently being built.

The Corona crisis has already triggered the first wave of emigration from Silicon Valley. In the past few decades, rents in the center of the start-up world in particular have continued to rise. Many employees of tech companies used the pandemic with increased home work to move to cheaper areas.

Less time in the office In the meantime, it is also becoming apparent that people will spend less time in the office in the future. As a result, companies see more leeway in choosing their headquarters. A few months ago, for example, the data analysis company Palantir announced that it would relocate its headquarters from Palo Alto to Denver, Colorado.

Oracle had most recently its headquarters in Redwood City, south of San Francisco. The distinctive office towers there are to remain an important location. Oracle was founded 1977 among others by Larry Ellison. The database specialist is one of the companies that made Silicon Valley great and prepared the ground for today’s online giants.

( bme)