job news,  oracle

Oregon Job News – Oracle Brings More Jobs Back To Oregon

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Oregon residents received more good news this week when it was announced that Oracle Corporation will be moving over 150 manufacturing jobs from it’s Mexico manufacturing plant back to it’s Hillsboro Oregon site.

Why The Change In Strategy?

In a move that seems to buck the trend that many manufacturing companies follow of moving their manufacturing operations South of the Border, to save costs, many people are asking why Oracle is brining back these jobs to Oregon and the answer is cash.

The State of Oregon is giving Oracle incentives that many Oracle insiders have said may be worth up to $1.5 million dollars and these “incentives” have been said to be structured as forgivable loans that will ultimately become grants as Oracle meets standards set by the state for benchmarks for salary and job growth.

Oregon’s Plan For Oracle

Under the incentives that the State of Oregon has given Oracle, the company must make sure that 78 of the 150 jobs must pay at least $60,000 per year or 150 percent of the State of Oregon’s average wage.

Oregon’s Governor John Kitzhaber heralded the deal with Oracle and said that his team’s hard work to bring Oracle back to Oregon is further proof of Oregon’s commitment to being a key player in the global economy.

Where Will The Money Come From?

The state of Oregon will take $750,000 from one of its reserve funds and up to $650,00 to make the pay Oracle the $1.5 million dollars that it will be due under this deal.

Oracle already has four locations in Oregon and the move by Governor Kitzhaber to bring more of the company’s workforce back to the state is indeed a positive sign that Oregon is an innovator and ready to be a key player in the technology arena during the next 10 years.

To learn more about the latest Oregon News or to get a free insurance quote, contact the Farnsworth Agency today at (541) 318-8835. 

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