Interesting. London Breed is surprisingly saying out aloud what has been speculated on this forum by many for so long.
Mayor London Breed spoke about her concerns with the city’s high office vacancy rate last week in an interview with Bloomberg News. The remote work policies of tech companies are part of the problem, Breed said. She pointed to Salesforce as an example. “[Marc is] very supportive of the city, continues to contribute that support to schools and to other great causes, but the building is empty, and that’s a real problem,” Breed said.
Empty buildings depress property values, which affects the amount the city makes in property tax revenue. Workers are also using public transportation at lower rates, and are spending less on goods at local businesses since they spend more time inside their homes.
Breed plans to coax businesses in growing industries, such as biotechnology and green technology, to fill empty office space.
I thought tech employees were causing all the city’s problems? Isn’t the city better now that a bunch of them left? They aren’t causing all the gentrification and displacement of others.
Just another city that blamed tech workers for all the issues. They are getting a reality check now. Without tech workers spending money in the city, the place is a dump.
Salesforce has already begun eliminating some office space in San Francisco. The company listed nearly half of its office space at 50 Fremont St., the 43-story Salesforce West tower, in July 2022. It will maintain ownership of the building and may reoccupy the space in the future, a Salesforce spokesperson told SFGATE at the time. It also canceled a 325,000-square-foot lease at the unbuilt Parcel F tower in San Francisco’s Transbay neighborhood in March 2021.
Politicians are skilled at speaking through both sides of their mouth.
