NASHVILLE, Tenn. (WTVF) — Oracle has announced plans to invest $1.2 billion into a new hub in Nashville.
In approved, the company plans to create 8,500 new jobs in the area by 2031 with an average yearly salary of $110,000. Additionally, over 11,500 ancillary jobs and 10,000 temporary jobs through building, operating and maintaining the proposed campus.
“We are thrilled that Oracle is ready to make a billion-dollar bet on Nashville,” said Mayor John Cooper. “Oracle will bring a record number of high-paying jobs to Nashville and they will pay upfront all the city’s infrastructure costs. This is a huge win for our city. In an unprecedented deal structure for Nashville, no new debt is being issued and there is no burden on our taxpayers. Oracle’s presence will transform the East Bank, and I’m equally excited about the ways Oracle can transform education and career pipelines in Nashville.”
Oracle is one of the largest global software and technology corporations, according to Forbes. The Nashville location will serve as the company's southeast hub, which will include engineering, sales and consulting positions. Oracle has major hubs in Redwood City, California, Santa Monica, California, Seattle, Denver, Orlando, Florida and Burlington, Massachusetts. The company's global headquarters is in Austin, Texas.
In an agreement between the company and local and state officials, Oracle plans to develop a campus on Nashville’s east bank that would be roughly twice the scale of the Music City Center. The mayor’s office says this will connect the tech giant to the Jefferson Street area.
The mayor’s announcement also said Oracle will bring a potential capital investment that includes $175 million in public infrastructure, including a pedestrian bridge over the Cumberland River linking the River North area to the Germantown area, a riverfront park at the River North landing of the bridge, greenway along the riverfront, brownfield remediation and a sewer pump station. The mayor’s office said this will benefit taxpayers without increasing the city’s debt, calling it a “groundbreaking financial win for Nashville.” No grants or bonds are required as part of the proposed deal.
As additional benefits to the community, Oracle plans to partner with Metro Nashville Public Schools through financial support and volunteer tutoring programs.
“The students and families of Metro Nashville Public Schools will benefit from Oracle joining our community,” said Dr. Adrienne Battle. “Not only would Oracle provide high-paying, technology-centered jobs for families and future graduates, but we hope to add Oracle to our great corporate partnerships who give back to our public schools through meaningful partnerships to prepare students for high tech jobs. IT skills are a priority for MNPS and we are excited by the possibility of partnering with Oracle to bring their track record of computer science education to our students.”
While Nashville is a finalist for the new campus, no final decisions have been made. The plan is also awaiting approval from the Metro Industrial Development Board and Metro Council.
