Twitter makes new nest in San Francisco

April 23, 2011
Twitter logo is displayed at the entrance of Twitter headquarters in San Francisco on March 2011. Twitter on Friday said it has inked a deal to move into a new nest in a chronically downtrodden part of downtown San Francisco that local officials are eager to rehabilitate.

Twitter on Friday said it has inked a deal to move into a new nest in a chronically downtrodden part of downtown San Francisco that local officials are eager to rehabilitate.

"Happy to say that is staying in ," spokesman Ali Rowghani said in a message fired off at the popular microblogging service.

"We've signed a lease to move our HQ to the Central Market area."

San Francisco leaders recently approved a break aimed at keeping Twitter in the city and encouraging the startup, and other technology firms, to roost in a section of downtown that has long resisted economic revitalization.

Companies in what are referred to locally as the Mid Market Street and Tenderloin areas will not have to pay any payroll taxes on new hires for the first six years.

Twitter is undergoing a major growth spurt, with new hires coming on board weekly.

Twitter had talked of moving to another northern California city with no payroll tax, but promised it would settle into a vacant Market Street building if the measure was approved.

Explore further: Google imports new CFO Ruth Porat from Wall Street (Update)

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