Subsidy Tracker Individual Entry

Company: 
Oracle Corp.
Parent Company: 
Oracle
Subsidy Source: 
multiple
Location: 
Tennessee
City: 
Nashville
County: 
Davidson
Project Description: 

office campus

Year: 
2021
Major Industry of Parent: 
information technology
Specific Industry of Parent: 
software
Subsidy Value: 
$240,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
5,989
Wage Data: 
$54.90
Wage Data Type: 
average hourly wage
Capital Investment: 
$1,350,000,000
Source of Data: 

Jobs, wages, investment and state grant amount are taken from: Tennessee State Funding Board September 7, 2021 Agenda, online at https://comptroller.tn.gov/content/dam/cot/tsfb/documents/meeting-packet.... See also minutes of the meeting at https://comptroller.tn.gov/content/dam/cot/tsfb/documents/minutes/2021/2.... As of November 2021, the deal was listed in the state panding FastTrack contract database: https://www.tn.gov/transparenttn/state-financial-overview/open-ecd/opene.... Local subsidies are taken from: Adam Sichk, "Metro Council approves incentives for Oracle Corp., propelling record-setting jobs deal to the finish line," Nashville Business Journal, May 4, 2021.

Notes: 

In April 2021, the Nashville Metro Council approved a subsidy deal with Oracle. The company will pay upfront $175 million for infrastructure improvements on its new office campus in Nashville; then it will be reimbursed for the costs over 25 years in a TIF-like scheme in which Oracle will keep half of new annual property taxes it generates at the site. The state approved $65 million in FastTrack Economic Development Funds. Overlaps with main data: none.

Source Notes: 
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