Genius city, facing down a possible pandemic-driven recession, passes special interest initiative that city economist says will reduce the GDP by $23 billion dollars.https://twitter.com/sfchronicle/status/1235074434656067584 …
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Here it comes: “Conference cancellations, lost hotel taxes and other impacts will bring a ‘significant reduction to our budget in the coming year,’ she said.”https://www.sfchronicle.com/business/article/San-Francisco-economy-reels-from-coronavirus-15112491.php …
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1) It won't just be small businesses. The latest elections outcomes and will tip a lot of larger businesses and the talent needed to fuel them to vote by relocation. I build a business here, bought a home, committed to the community - and I'm exiting.
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2) At a community party this past weekend the topic was relocation - not Coronavirus. With a complete lack of trust in the city leadership people are pulling the trigger to move. All were long time city residents and represent major employers.
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is there an article about why the finances of SF / California are so bad? You figure with the tax base, major industry in CA etc.. financials should be fine?
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The 1978 Prop 13
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