COMPANIES PAY A PREMIUM TO DO BUSINESS IN SAN FRANCISCO
It has always been expensive to operate a business in San Francisco—even before the recent slate of business taxes—but through remote work, companies have realized that they can create significant tax savings by downsizing or leaving the City altogether. Due to the way San Francisco calculates taxes, based partly on the proportion of employees who work in the City, companies with more employees working from home in the suburbs owe fewer taxes to the City. San Francisco now comes to a crossroads where it must decide whether the City can sustain more business taxes or if its economic recovery needs dramatic changes like tax incentives or a business tax moratorium.
SUPERVISOR DORSEY DETAILS PLANS TO REIGNITE THE CITY
sf.citi continued our 2022 Lunch and Learn discussion series with District 6 Supervisor Matt Dorsey. We were joined by sf.citi members Alaska Airlines, Comcast, Intuit, Meta, Microsoft, Okta, Salesforce, Twitter, Verizon, Waymo, and more.
In his conversation with sf.citi members, Supervisor Dorsey discussed how the first few months as Supervisor have gone and outlined his vision for District 6 and the City to weather this complicated post-COVID world. District 6 faces many challenges—maybe more than any other district in the City right now–and the Supervisor wants to explore new, innovative ideas to bring back a vibrant downtown and seriously address the drug crises. But at the end of the day, the Supervisor’s top priority is to tackle the City’s housing crisis, as most issues plaguing the City can trace back to the lack of affordable housing in San Francisco.
THE STATE LAUNCHED A REVIEW OF SAN FRANCISCO’S HOUSING POLICY
In an unprecedented move, the California Housing and Community Development (HCD) Department will conduct a housing policy and practice review of San Francisco—the first of its kind for the HCD. With San Francisco’s notorious lack of housing production and the longest timeline for advancing housing projects in the state (450 days), state officials decided they needed to take action. The HCD hopes that through their review, they can understand why the timeline to approve new housing in the infamous housing-deficient city takes so long and identify whether any of the City’s practices violate state housing law.
DID YOU KNOW?
San Francisco won a landmark opioid trial against Walgreens in a nationwide set of lawsuits involving companies that manufactured and distributed opioids. The City Attorney’s office described the win as a bellwether that will significantly benefit cities dealing with addiction crises across the country. Read more about the lawsuit here.
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