Facebook Wants to Lure Workers into the Suburbs With a $10,000 Bonus
Posted By Toshio Meronek : sfweekly – excerpt
Looking to alleviate some of the pressures of San Francisco’s cutthroat housing market — long commutes, anti-tech sentiment, and costly private shuttle services — Facebook is offering employees a $10,000 or more payment to move within 10 miles of its Menlo Park campus…
Nor is Facebook the only tech behemoth trying to lure city dwellers into the suburbs. According to Reuters, investment management company Addepar, data company Palantir, and SalesforceIQ, a division of Salesforce, have started offering similar incentives.
It’s a nice idea, but as it stands, it’s an offer most tech workers would — and can afford to — refuse…
It’s also not a proposition many non-tech workers living in Silicon Valley necessarily support. Dorsey Nunn, the executive director of legal services for Prisoners with Children, an SF-based nonprofit that supports people coming out of prison, commutes to the city everyday from East Palo Alto. His home is just a few minutes’ drive from Facebook’s HQ.
“I don’t think my children are going to be living in that neighborhood, or my grandchildren, because they’re priced out because of Facebook,” Nunn said, indicating the extent to which SF-style skirmishes over tech “gentrifiers” have spread into the South Bay. As Reuters notes, an average rental in Menlo Park is already $3,500 a month… (more)