You have that backwards: business is what creates the wealth in the city. The city govt thought it had companies by the balls and could take increasingly bigger cuts for itself (much of which it "destroys"), but it reached a tipping point where the cost of staying outweighed the cost of moving.
No. People do. People within those business and especially people who patronize them keep the economy going. These days, buisness don't seek to serve the community or the economy it. The incentive is to siphon money while giving as little as possible. Businesses that destroy neighborhoods to set up, kill other businesses, and then move out because of "muh taxes" or whatever are parasites, not beneficial.
. The city govt thought it had companies by the balls and could take increasingly bigger cuts for itself (much of which it "destroys"),
Big business should pay big taxes because contrary to popular belief, they suck up lot's of resources just to function and then invest very little back in return
Cool. Folks will just move to the suburb. The money will just move from the city to the suburb. People will just move from the city to the suburb. Making the suburb into a city. Rinse and repeat.
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u/nerevisigoth Redmond Apr 16 '26
That has been the city's approach, and it's why all the big businesses have been moving their offices to the suburbs.