Colorado Institute of Technology (CIT) receives $10 million gift to develop local workforce

Calif.-based Oracle to donate services, cash in next 5 years

ASPEN – Software company Oracle Corp. announced Monday it will donate $10 million in cash and services over the next five years to the Colorado Institute of Technology.

By David Milstead, Rocky Mountain News

"We’re investors, and we invest in the future," Kevin Fitzgerald, an Oracle senior vice president, told attendees of the winter planning session of the governor’s commission on science and technology, where the gift was announced. "We invested in the Colorado Institute of Technology because we need to have a work force that has the labor skills and the technical skills."

The Colorado Institute of Technology works with businesses to create educational and training programs that produce qualified workers for businesses’ needs. It’s financed by private contributions from companies including Level 3 Communications, Sun Microsystems, Qwest, Hitachi Data Systems and EDS.

Gov. Bill Owens, who started the program in his first term, said the Oracle investment "will go even further toward preparing people for today’s tech economy."

It’s not clear how much of the $10 million will come in cash and how much in services. There are no restrictions on the use of the money.

Oracle, based in Mountain View, Calif., employs roughly 1,100 in Colorado, almost all as tech-support and service professionals in Colorado Springs.

Larry Ellison, founder of the 26-year-old company and now its chairman and executive officer, was the keynote speaker at last summer’s Colorado Technology Summit 2002 in Denver.

As further evidence of his commitment to Colorado’s tech future, Ellison invested $100 million in Pillar Data Systems last year. While the data-storage company is based in Milpitas, Calif., its 22,000-square- foot Longmont facility employs 60 people and is growing. Ellison sits on its board.

"We believe Colorado will be one of those areas that will help us grow as a company," Fitzgerald said.

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