April 24, 2011

Twitter Flies To New Nesting Grounds In San Francisco

"Happy to say that Twitter is staying in San Francisco," spokesman Ali Rowghani said in a message fired off at the popular microblogging service. "We've signed a lease to move our HQ to the Central Market area."

San Francisco's depressed Central Market part of the city welcomes the new headquarters of Twitter Inc., AFP reports. City officials recently approved a tax break aimed at keeping the popular microblogging company in its hometown and is seeking other technology firms to put down roots in a section of downtown that has long resisted economic vitality.

San Francisco leaders recently approved a payroll tax break aimed at keeping Twitter in the city and encouraging the startup, and other technology firms, to roost in a section of downtown that has long resisted economic revitalization.

Businesses relocating into what are referred to locally as the Mid Market Street and Tenderloin areas are excused from paying payroll taxes on new hires for the first six years.

With new hires coming on board weekly, Twitter is undergoing a major growth spurt and had recently considered relocating to another northern California city that had no payroll tax, With this tax break in place, Twitter but promised it would settle into a vacant Market Street building.

The Board of Supervisors in an 8-3 vote approved the tax exemption although the more left-leaning members of the board opposed even after the votes to pass the measure were  in place, according to the San Francisco Examiner.

"San Francisco's unique creativity and inventiveness is a part of Twitter's DNA, and we feel like we are part of San Francisco,"a Twitter statement said. A date for the move has not been set yet, "We expect we will move into our new space in mid-2012. We can't wait."


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