Tax Break For Twitter, Other Tech Companies Re-Approved

Despite citizens' objections, tech companies get their tax haven in S.F.

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    NEWSLETTERS

    Bob Redell
    Not everyone has been a fan of Twitter's move to the tax break area, but Twitter's receipt of the break was approved.

    The Twitter tax break will continue.

    But the social media giant will have to pay for it.

    The tax breaks for tech companies that relocated to Mid-Market in San Francisco were renewed this week, with companies like Twitter agreeing to do more to earn the cut, according to reports.

    Perhaps in reaction to criticism that Twitter isn't doing enough to earn its privileged status, the company agreed to increase payments to community groups to $378,000, the San Francisco Chronicle reported.

    Twitter also agreed to spend $500,000 at local merchants and businesses.

    Twitter declined to say how much the tax break saved the company, which was wooed to the area after it threatened to move out of town.

    A city report said the tax break has cost the city $1.9 million, the newspaper reported.