Oracle America, the computer hardware and software giant, will be setting up a regional technology service center at Loop 410 and Blanco on the city's north side, which will employ 200 people at a minimum salary of $70,000 a year, under an incentive deal approved today by San Antonio City Council.
The agreement calls for the city to pay Oracle $1 million over three years, dependant on the creation of the jobs, according to Rene Dominguez, who is the city's Economic Development Director.
"My expectation going forward to have such a global leader in information technology pick San Antonio, my expectation is that this will help us attract more formidable companies, which now know that we have the work force to handle their needs," Dominguez said.
Oracle, which is based in Redwood City California, is one of the world's leading hardware and software companies, with 120,00 employees worldwide, and annual revenue of $37 billion.
Councilman Joe Krier says this is the kind of economic development that can't be beat.
"When it comes to the types of jobs and the salaries of jobs, obviously, this is one of the premiere companies in the world," Krier said.
The city says Oracle was looking for a site in the southwestern United Stats for the expansion of its information technology services across the Americas, and on April 30, Oracle picked the northside location.
Mayor Castro says jobs like this are part of the effort to transform San Antonio into a brainpower economy city.
"A few years ago,. we determined that San Antonio could compete better for 21st Century jobs, including good jobs in information technology and information security," Castro said.