Independent report: Seattle’s JumpStart payroll tax penalizes senior hires and concentrates revenue in 10 largely tech firms, risking $50M loss if one large employer shifts 10,000 workers

An independent 127-page City of Seattle-commissioned study finds the city’s tax structure, notably the JumpStart payroll tax, disproportionately penalizes hiring senior high‑pay workers and concentrates revenue risk in a few large tech employers. Researchers warn that reliance on a small number of firms—10 companies account for three-quarters of the payroll tax on large employers—exposes Seattle to significant fiscal vulnerability if large employers relocate or stock‑based compensation fluctuates.

CCharles Fitzgerald OOffice of Economic Development