AUSTIN – (Realty News Report) – A proposed deal involving the Chinese-owned video-sharing app TikTok, Oracle Corp. and Walmart Inc. could create about 25,000 new jobs and establish a corporate headquarters in Texas, President Trump said Monday.
“It’s going to bring 25,000 jobs, and it’s going to be located in Texas, and they look forward to doing it,” Trump told the Fox & Friends program on Fox TV Monday. He also said he likes Oracle CEO Larry Ellison and considers him a friend.
Oracle already maintains an Austin campus on the shore of Lady Bird Lake with roughly 2,500 employees, and TikTok recently opened an office in the Texas capital, where several technology companies have offices.
Governor Greg Abbott tweeted that he spoke with President Trump on Saturday about the headquarters location for the proposed new company, to be called “TikTok Global.”
“I let him (Trump) know that if he approves the deal Texas would be the perfect place for the HQ. We’ll see,” Abbott said.
The TikTok proposal stems from national security concerns raised about the app’s presence in the U.S. social media landscape, and the transaction is not finalized. Several legal and regulatory hurdles remain before the deal could close.
A Workforce of 25,000
Building TikTok Global’s workforce in Austin would happen over time rather than immediately.
In a statement released Saturday, Walmart said the job growth would be gradual. “We believe this deal will benefit the U.S. in many ways, including bringing over 25,000 jobs over time as well as continuing to develop exciting, innovative products for people to enjoy around the world,” the company said.
Oracle’s existing Austin campus is located east of Interstate 35 and south of Lakeshore Boulevard on the south side of Lady Bird Lake.
Sept. 21, 2020 Realty News Report. Copyright 2020.
File: Trump: Deal Will Bring 25,000 Jobs
Photo credit: Ralph Bivins, Realty News Report. Copyright 2020.
