trending Market Intelligence /marketintelligence/en/news-insights/trending/_9rue53qm58yrar8ics28w2 content esgSubNav
In This List

Starbucks joins Amazon in opposition to Seattle's new business tax

Blog

2023 Big Picture: US Consumer Survey Results

Blog

Insight Weekly: Bank mergers of equals return; energy tops S&P 500; green bond sales to rise

Blog

Insight Weekly: US companies boost liquidity; auto insurers hike rates; office sector risk rises

Blog

Essential IR Insights Newsletter - Summer July-August 2023


Starbucks joins Amazon in opposition to Seattle's new business tax

Starbucks Corp. is echoing Amazon.com Inc.'s opposition to the Seattle City Council's recent approval of a tax on the city's biggest companies, technology news site Geekwire reported May 15, citing a statement from Starbucks Senior Vice President John Kelly.

The report comes on the heels of the council's imposition of a $275 annual tax per full-time employee for companies generating more than $20 million in annual income, as the city seeks to address affordable housing and fund homeless services.

Kelly, senior vice president of global public affairs and social impact at Starbucks, reportedly criticized the city for continuing to "spend without reforming and fail without accountability, while ignoring the plight of hundreds of children sleeping outside," according to the report.

"If they cannot provide a warm meal and safe bed to a five-year-old child, no one believes they will be able to make housing affordable or address opiate addiction," the executive of the U.S. coffee giant reportedly said.

E-commerce giant Amazon recently slammed Seattle's decision, with Amazon Vice President Drew Herdener saying the company is disappointed with the move and that it is "very apprehensive" about its future in the city.