San Francisco lawmakers approve Twitter tax break
SAN FRANCISCO (KABC) -- Officials in San Francisco have approved a tax break to keep Twitter Inc. from fleeing their city.
The measure passed by the Board of Supervisors exempts the company from paying payroll tax on new hires if it moves to the city's neglected Mid-Market area.
The exemption applies to any business in that neighborhood.
Analysts say Twitter is already outgrowing its current San Francisco headquarters, and the company is poised to expand from a few hundred to a few thousand workers.
Critics, including the city's largest employees union, have called the plan an ill-conceived corporate giveaway that will lead other companies to issue ultimatums demanding similar treatment.
The debate comes at a time when the city's high tech startup scene teems with energy not seen since before the first Internet bubble burst in 2000.
The Associated Press contributed to this report.
twitter, taxes, san francisco, business
- Boy Scouts vote to accept openly gay boys
- Palmdale boy allegedly tortured; 2 in custody
- LA gang coordinated from Kansas house: arrest
- 5.7-magnitude earthquake strikes NorCal city
- Cold case: Cadaver dog fails to pick up scent
- IE school, parents make push for crosswalk
- 5-acre brush fire burns near Castaic school
- I-5 bridge collapses in Wash.; people in water
- Jodi Arias sentencing: Judge declares mistrial
- abcnews: NY man rescued after month of alleged torture
- London attack investigation: 2 more arrests
- Consumer Reports tests summertime sunscreens
- SI model accepts local teen's prom proposal
- OTRC: Jennifer Aniston plays stripper in 'Millers'