California-based Oracle America Inc. plans to create 200 new jobs, open a 50,000-square-foot office in Northwest Austin and invest $5.4 million in the project.

On Nov. 5, Williamson County commissioners approved an economic development agreement with Oracle to rebate 50 percent of the company's incremental real and personal property revenues over the next seven years, beginning in tax year 2014.

"By helping companies to choose to come to Williamson County, they're hiring many of those folks [who] already live here," Commissioner Cynthia Long said. "We are delighted with the decision you all [Oracle] have made and that we can be a part of that."

Commissioner Lisa Birkman said that this is a great deal for the county. Oracle plans to hire 100 of those new jobs in 2013 and the remainder by 2017, she said. The average annual salary will be $66,000.

Oracle's new office will be located at 7700 W. Parmer Lane in Williamson County. This is the same property that Freescale Semiconductor Inc. occupied before announcing it would relocate its operations to South Austin by the end of 2013.

Oracle already maintains offices in Northwest Austin at 9600 N. MoPac and 5300 Riata Park Court, according to the company's website. The expansion will increase Oracle's sales and marketing personnel to serve the company's growing client base. Oracle provides customers with hardware and software that work together to meet a company's business needs.

"We've enjoyed building a home in Austin, and now, as the second-largest software company in the world, [we] are looking forward to continued growth and success in Central Texas," said Randy Smith, Oracle's vice president of global real estate and facilities, in a news release.

The Greater Austin Chamber of Commerce supported the expansion through its Opportunity Austin initiative that facilitates the creation of jobs and continued economic success for the Austin region.

"We are grateful that Oracle has decided to further its growth and investment in Austin, and look forward to continuing our mission to build a strong future for our residents and businesses," said Gary Farmer, chairman of Opportunity Austin and president of Heritage Title Company of Austin Inc., in a news release.

Gov. Rick Perry's office announced Nov. 1 that Oracle would receive $1 million for its $5.4 million investment. This amount would come from the state's Texas Enterprise Fund that creates jobs and helps Texas businesses grow.

According to the governor's website, the fund has invested about $506 million on projects that generated 69,633 new jobs and more than $21.7 billion in capital investment since the fund's inception in 2003. The state has previously awarded TEF funds to other companies to expand in Northwest Austin, including National Instruments, Apple Inc., Visa Inc. and HID Global Corp.