Tennessee panel OKs $65M in state incentives for Oracle

Oracle rendering
Posted at 9:42 PM, Sep 08, 2021
and last updated 2021-09-08 22:42:43-04

NASHVILLE, Tenn. (AP) — A Tennessee panel has approved $65 million in state incentives for Oracle Corp. as the company plans to bring 8,500 jobs and a $1.2 billion investment to fast-growing Nashville over the coming decade.

The State Funding Board signed off on the FastTrack grant during a meeting Tuesday.

In April, Nashville Mayor John Cooper's office announced that the Austin, Texas-based computer technology company plans to build the new campus with 1.2 million square feet of office space. Documents show the project aims to offer an average salary of $110,000.

The Metro Nashville City Council signed off on the deal in May.

The move would surpass the expansion of Amazon, which in 2018 announced it would bring 5,000 jobs through a $230 million investment in a new Nashville operations hub.