Software giant Oracle Corp., a Silicon Valley mainstay for more than 40 years, said Friday it would relocate its headquarters to Texas. In a regulatory filing, Oracle said the relocation from Redwood City, CA to Austin “means that many of our employees can choose their office location as well as continue to work from home part-time or all of the time.”

Bloomberg News first reported the move. A spokesperson for Oracle told CNBC, “In addition, we will continue to support major hubs for Oracle around the world, including those in the United States such as Redwood City, Austin, Santa Monica, Seattle, Denver, Orlando and Burlington, among others, and we expect to add other locations over time.”

Bloomberg reported that some companies, executives and employees have been leaving California because of concerns over the state’s tax rates and high cost of living, along with arduous commutes in some areas.

The Oracle news follows Hewlettt Packard Enterprise’s announcement earlier this month that it would relocate from Silicon Valley to the Houston area. Elon Musk, whose Tesla Motors is building a “gigafactory” near Austin, confirmed earlier this week that he has moved to Texas to focus on large-scale projects for Tesla as well as his Space Exploration Technologies Corp.

Oracle’s shift of resources away from California dates at least to 2018, when the company opened a campus in Austin. Bloomberg reported that it features an on-site apartment building for employees, in an effort to recruit a younger and less costly workforce. The campus could eventually host 10,000 staffers, Oracle said at the time.

Texas Gov. Greg Abbott tweeted Friday, “Oracle just announced they have moved their headquarters to Austin. Texas is truly the land of business, jobs, and opportunity. We will continue to attract the very best.”

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