Are We Losing Twitter To Brisbane
Twitter, a San Francisco startup is looking to expand its workforce and save some money while doing it. San Francisco may lose Twitter to Brisbane. Twitter needs to grow its employee base and the payroll tax here in the city is 1.5%. Brisbane city has no tax and the internet company is 
thinking of a move.
Pending Legislation
Legislation is being put before the Board of Supervisors to suspend the payroll tax for six years. Any other company, moving to Mid-Market, that pays payroll taxes above $250,000, would also be eligible for the exemption. David Chui, Mayor Lee and Jayne Kim are all on board with this idea of attracting and keeping larger business in San Francisco.
Opposition to the tax makes the point that other companies could begin to use this to make the same case ...we'll move if you tax us. Supervisor John Avalos, worries about who is next if the city allows Twitter a tax break. He muses...could Wells or Bechtel be next to force the citys hand?
Twitter would like to stay in the city and move to bigger digs, hiring thousands of new people wants to make the move to Market and Ninth, an area that would see significant improvement if they did. It would provide an anchor tenant for an area, affected by blight and public safety issues.
Mr. Avalos makes a point, but the upside is all those new jobs and a significant statement for the remake of Mid Market, something the city has been wanting to do. Wouldnt the tax break be made up by all those new jobs and small business sales and payroll taxes. San Francisco rental stock is in the beginnings of an upswing. Many of theses new jobs would certainly underpin the rental market and indirectly support the green shoot beginnings of a recovery in that sector.
Thanks for Reading
www.yourpropertypath.com
thinking of a move.Pending Legislation
Legislation is being put before the Board of Supervisors to suspend the payroll tax for six years. Any other company, moving to Mid-Market, that pays payroll taxes above $250,000, would also be eligible for the exemption. David Chui, Mayor Lee and Jayne Kim are all on board with this idea of attracting and keeping larger business in San Francisco.
Opposition to the tax makes the point that other companies could begin to use this to make the same case ...we'll move if you tax us. Supervisor John Avalos, worries about who is next if the city allows Twitter a tax break. He muses...could Wells or Bechtel be next to force the citys hand?
Twitter would like to stay in the city and move to bigger digs, hiring thousands of new people wants to make the move to Market and Ninth, an area that would see significant improvement if they did. It would provide an anchor tenant for an area, affected by blight and public safety issues.
Mr. Avalos makes a point, but the upside is all those new jobs and a significant statement for the remake of Mid Market, something the city has been wanting to do. Wouldnt the tax break be made up by all those new jobs and small business sales and payroll taxes. San Francisco rental stock is in the beginnings of an upswing. Many of theses new jobs would certainly underpin the rental market and indirectly support the green shoot beginnings of a recovery in that sector.
Thanks for Reading
www.yourpropertypath.com
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