Twitter To Stay In San Francisco As City Approves Tax Break
San Francisco’s Board of Supervisors approved an ordinance late Tuesday that excludes Twitter and some other businesses from paying a 1.5% city payroll tax for the next six years, reports The Wall Street Journal.
“I would also like to thank Twitter for making a commitment to remain in San Francisco and for their enthusiasm about joining our broad-based effort to revitalize Central Market and the Tenderloin,” said San Francisco Mayor Edwin Lee in a statement. “This new partnership with Twitter represents just one example of how the City can work collaboratively with businesses, community-based organizations, property owners, and area residents to catalyze meaningful change in this neighborhood.”
It’s not quite a done deal – San Francisco’s Board of Supervisors must approve the ordinance a second time via vote, but this should be automatic.
The decision allows Twitter, currently located in the city’s South of Market area, to move their offices to San Francisco’s...
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in