Twitter Tax Deal Boosts San Francisco Revenue $7 Million

A payroll-tax break created three years ago in the blighted Mid-Market area of San Francisco to keep Twitter Inc. from leaving the city has generated $7.6 million in additional payroll-tax revenue as more companies moved to the area, a city report said.

While the exclusion that applied to the social-media giant and 14 other companies cost the city $4.2 million in lost revenue last year, 61 more businesses filed a payroll-tax return than in 2010, the year before the exclusion was enacted, according to a report yesterday by the San Francisco controller’s office.