San Francisco Tweet: Tax Break For Twitter
Late Tuesday, the San Francisco Board of Supervisors voted 8-3 to approve a policy that would exempt certain companies from payroll taxes on new employees if the firms locate within two struggling neighborhoods of the city. The policy, up for a final vote next week, is seen specifically as an incentive to keep Twitter in town by saving it an estimated $22 million over six years. The exemption would allow the growing company to proceed with its plans for a big, rehabbed headquarters in the rough Mid-Market neighborhood. And if you’re picturing gritty chic, forget it–right now, it’s just gritty.