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:
If an online information source is not working, check the Tracker inventory page for an updated link.
