“San Francisco leaders said the incentives deprived the city of just under $2 million in taxes, while generating $8 million in new revenue. Union leaders, on the other hand, said lost taxes total somewhere close to $56 million. San Francisco’s Office of Economic and Workforce Development said the payroll tax breaks offered to Twitter, lured 17 other tech companies to mid-market. They also brought 17 small businesses, 13,000 jobs and more than 5,000 units of new housing under construction in the area. ‘The 13,000 jobs support so many other jobs and economic activity in the city,’ said Todd Rufo, the mayor’s director of economic and workforce development.”
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