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It's the tax breaks: >Of the billions in tax incentives granted to US companies every year by cities and states, many agreements require workers to come into t

It's the tax breaks: >Of the billions in tax incentives granted to US companies every year by cities and states, many agreements require workers to come into the office some of the time, or at least live in the region. For companies receiving these incentives, relaxing in-office attendance could be costly. >The contracts were crafted in a pre-pandemic era, at a time when commutes to the office were a given. Now governments are deciding whether to crack down or rewrite the rules entirely. In some states and cities, policy changes have already been proposed to account for the new reality of hybrid work. https://www.bloomberg.com/news/features/2023-02-21/another-threat-to-work-from-home-tax-breaks https://www.bloomberg.com/news/features/2023-02-21/another-t...

pluc 3y ago
That makes some sense. Massive amount of people converging on a downtown area does things to the local economy.. especially if that economy was adapted to cater 80% to them and 20% to tourists
_cenw 3y ago
Maybe that's a small part, but even if you look internationally, 87% of CEOs in the 2023 CEO KPMG poll want return to the fiefdo-- office. https://kpmg.com/xx/en/home/media/press-releases/2023/09/ceo-outlook.html https://kpmg.com/xx/en/home/media/press-releases/2023/09/ceo...
- ethanbond 3y ago
  Do similar tax breaks not exist outside the US? Seems like a sensible thing for the municipality to provide and for businesses to accept, in general.
  - _cenw 3y ago
    At least none I'm aware of that are bound to occupancy.
ghaff 3y ago
Existing tax incentives are probably one of the legit reasons why some companies are concerned about wide-scale WFH though I tend to agree with a sibling comment that it's probably also not a major factor. It's reasonable for cities to be concerned. Empty offices take a lot of supporting businesses with them. And, absent a need to go into an office, a lot of people will (and have) decide that the tradeoffs of urban life aren't for them--especially when their favorite restaurants or coffeeshops go out of business and friends move out. In the US, many cities have had significant downcycles before. There's no law of nature that it can't happen again.
- datavirtue 3y ago
  Force people into the office so small businesses don't close? Sounds like communism.

pluc 3y ago

That makes some sense. Massive amount of people converging on a downtown area does things to the local economy.. especially if that economy was adapted to cater 80% to them and 20% to tourists

_cenw 3y ago

Maybe that's a small part, but even if you look internationally, 87% of CEOs in the 2023 CEO KPMG poll want return to the fiefdo-- office. https://kpmg.com/xx/en/home/media/press-releases/2023/09/ceo-outlook.html https://kpmg.com/xx/en/home/media/press-releases/2023/09/ceo...

ethanbond 3y ago
Do similar tax breaks not exist outside the US? Seems like a sensible thing for the municipality to provide and for businesses to accept, in general.
- _cenw 3y ago
  At least none I'm aware of that are bound to occupancy.

ghaff 3y ago

Existing tax incentives are probably one of the legit reasons why some companies are concerned about wide-scale WFH though I tend to agree with a sibling comment that it's probably also not a major factor. It's reasonable for cities to be concerned. Empty offices take a lot of supporting businesses with them. And, absent a need to go into an office, a lot of people will (and have) decide that the tradeoffs of urban life aren't for them--especially when their favorite restaurants or coffeeshops go out of business and friends move out. In the US, many cities have had significant downcycles before. There's no law of nature that it can't happen again.

datavirtue 3y ago
Force people into the office so small businesses don't close? Sounds like communism.