San Jose approves tax breaks to help fill empty office space

Downtown San Jose like most places is struggling to fill up empty office space. The San Jose City Council voted unanimously to approve a new policy to help entice companies to lease up vacant space.

Any business with at least 2,500 SQFT that signs up for a four year lease or longer will be exempt from paying city business taxes and fees for at least five parking permits for two years. It's a step towards helping bring more people to Downtown San Jose and filling up about 3 million SQFT of available office space.

There have been some positive news in Downtown's commercial real estate scene. More on that tomorrow.

Source: San Jose Spotlight