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Boeing, Oracle CEOs: Jobs Coming Back To US From Overseas

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Oracle Corp. president Safra Catz says it makes sense to bring jobs back to the United States. (Photo by Justin Sullivan/Getty Images)

Oracle Corp. president Safra Catz says it makes sense to bring jobs back to the United States. (Photo by Justin Sullivan/Getty Images)

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HELENA, Mont. (CBS Seattle/AP) — Oracle Corp. president Safra Catz says it makes sense to bring jobs back to the United States.

Catz spoke Tuesday to a gathering of several thousand business leaders and others in Butte, Mont.

She says her company is bringing more jobs back to the U.S. because the entire value of Oracle s in its employees. Oracle has been centering its cloud computing division in Bozeman, Mont.

The Boeing Co. CEO Jim McNerney told the crowd that locating workers outside the country is no longer as compelling as the cost of business increases overseas.

This week, Forbes listed Oracle co-founder Larry Ellison — with $41 billion —  as the third-richest American behind Bill Gates and Warren Buffett.

McNerney predicted that improved business efficiency, fast-paced energy development and other factors will lead to a renaissance of American manufacturing.

He announced a $35 million expansion for Boeing’s plant in Helena, Mont., that will add 20-25 jobs.

(TM and © Copyright 2013 CBS Radio Inc. and its relevant subsidiaries. CBS RADIO and EYE Logo TM and Copyright 2013 CBS Broadcasting Inc. Used under license. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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