this post was submitted on 08 Sep 2023
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Corporations get tax breaks from cities based on expected work population and its resulting economic impact on the local economy. Without people in the office, these tax breaks become legally in jeopardy as the city could argue the company hasn't lived up to its agreement.
And a lot of execs have money in corporate real estate, which, as you can imagine, has lost some value in the last few years.
It's always about money.