Twitter to stay put in San Francisco

Twitter is staying in its home city of San Francisco.

Twitter’s chief financial officer, Ali Rowghani, announced in a tweet that the company had signed a lease on a new headquarters in the Californian city’s Mid-Market neighbourhood.

The deal comes after the city’s Board of Supervisors gave final approval to a tax break that will exempt the company from paying city payroll taxes on new employees.

The rapidly growing social media service is expected to add more than 2,000 new employees over the next few years.

City leaders pitched the tax break as a way to bring economic revitalisation to the struggling neighbourhood near City Hall.

The company said it expects to move into the new space in mid-2012.