“Thirteen years after the city carved out a special tax break to attract tech companies to its beleaguered downtown corridor, X has confirmed plans to shut its San Francisco headquarters.”
San Francisco paused its 1.5% payroll tax to lure Twitter to Mid-Market. In 2013 alone, 15 businesses saved a collective $4.2 million. X still holds roughly 800,000 square feet there on leases running to 2026 and 2028, and more than half of it already sits empty after the layoffs. The city paid for the anchor tenant and is getting a vacant Art Deco building back.