NASHVILLE, Tenn. (WKRN) — Metro Council voted unanimously Tuesday night to approve the Oracle deal to bring a $1.2 billion investment to Nashville.
This means Oracle will build its new campus along the East Bank of the Cumberland River.
Council members voted 40-to-0, in favor of welcoming the tech company. Council members also approved an amendment establishing the intent to use half of the property tax revenue from the site for affordable housing.
Shortly after the vote, Nashville Mayor John Cooper issued the following statement:
“Today’s Oracle vote demonstrates Metro’s commitment to make the right deals for Nashville. This is the largest private investment and the largest job creation deal in our history – all with no expense in our budget and no new debt. Oracle’s $1.2 billion investment will create thousands of quality jobs and help our kids succeed in the digital economy. After a challenging year, this helps kick off Nashville’s next decade of prosperity.”
According to Oracle, the deal will bring with it 2,500 jobs by 2027 and 8,500 jobs will be created by 2031.