Mayor Ed Lee and Supervisors David Chiu and Jane Kim announced yesterday a proposal that would give companies moving to Mid-Market tax breaks on any additional employees hired. The proposal was aimed squarely at Twitter, who has been threatening to move their 350 employees to Brisbane. So the good news is that the city won't lose any money, assuming Twitter really would otherwise pull the trigger and move south, which is debatable.
The revitalization of mid-Market has been a long time coming. The Gav rolled out $11,500,000 in low-interest loans for the area last year, and none of that money actually got loaned out. The new mayor and BOS are looking to take a new tack with an area that has been stubborn to change. With Burning Man organizers Black Rock LLC and the American Conservatory Theater eyeing plans to move into the area as well, it could just abound with nerdy, hippie,and arty types in addition to the usual shady characters.
· Mid-Market tax break plan in works to lure Twitter [SF Gate]
· Gavin Announces a Do-Over for Stalled Mid-Market Redevelopment [Curbed SF]
· Mid-Market: More Drama, Better Lighting [Curbed SF]
· Mid-Market: Burning Man at the Warfield? [Curbed SF]