Twitter staying in San Francisco

Twitter’s headquarters will officially remain in San Francisco after it secured a deal with the city over a tax break. 

“Twitter is staying in San Francisco and has signed a lease to move our headquarters to Market Square, a historic building in San Francisco’s Central Market neighborhood that is being managed by our new partner and landlord, Shorenstein Properties,” Twitter’s head of communication Sean Garrett announced on the company’s blog.

For the last few months, the City of San Francisco and Twitter have been at odds over the city’s 1.5% payroll tax. San Francisco is the only city that has a business tax based on how much the company pays workers (including stock options), rather than simply taxing the company’s income. The result is that Twitter would have to pay millions more to the city — a charge it could avoid by moving a few miles south or east.

For the last few months, the City of San Francisco and Twitter have been at odds over the city’s 1.5% payroll tax. San Francisco is the only city that has a business tax based on how much the company pays workers (including stock options), rather than simply taxing the company’s income. The result is that Twitter would have to pay millions more to the city — a charge it could avoid by moving a few miles south or east.

We don’t yet have a timeline for our relocation, but we expect we will move into our new space in mid-2012. We can’t wait.

http://blog.twitter.com/2011/04/tweets-of-san-francisco.html

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About Ryan Swindall @Ryan_Swindall

Social Media Manager at Accellion View all posts by Ryan Swindall @Ryan_Swindall

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