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Seattle approves new city budget that plugs shortfalls with surplus revenue from business tax

GeekWire

Amazon’s Spheres and other buildings at the company’s headquarters campus in Seattle. Now the city is using the surplus to help close major gaps in its budget. million in 2023, and up to $84 million in 2024, if necessary. GeekWire Photo / Kurt Schlosser). The legislation passed Tuesday allows for up to $29.4

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Google Cloud growth slows as Alphabet net income plunges

CIO Business Intelligence

Even though Google Cloud revenue growth showed signs of slowing, it nevertheless provided something of a bright spot as parent company Alphabet — hit hard by the tightening of customer budgets — posted a year-over-year decline in net income for its 2022 fourth quarter. Net income (profit) was $13.6 from the $61.2

.Net 52
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Recent grads working in tech are migrating to Seattle more than any other U.S. city

GeekWire

Amazon workers and others near The Spheres on the company’s Seattle headquarters campus. A new CBRE study detailing talent migration trends found that from February 2022 to February 2023, Seattle led all cities with a 15.2% “in-migration rate” for tech workers with 0-to-3 years of experience.

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Seattle lawmakers axe funds for gunshot detection tech that was part of mayor’s public safety push

GeekWire

billion city budget for 2023 will not include funds sought by Mayor Bruce Harrell for gunshot detection technology. The technology being sought, developed by companies such as Fremont, Calif. All proposed funding was eventually cut from the budget. The City of Seattle is facing major shortfalls in its budget.

Budget 120
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Seattle office market continues to struggle as vacancy rates rise for ninth consecutive quarter

GeekWire

at the end of 2023, the ninth consecutive quarterly increase. It also marked the ninth straight quarter of negative net office absorption, which is calculated by the total amount of space leased minus the total space vacated in a given quarter. Companies are reducing real estate footprints with the adoption of hybrid work policies.

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Biotech industry leaders share cautious optimism for 2023 amid downturn and layoffs

GeekWire

He weathered the 2009 recession as CEO of Isilon Systems, coming out the other end to sell his company the next year for $2.25 “As a development stage company, we’re doing everything we can to strike the right balance between accelerating the development of our platform while seeking to extend our cash runway,” said Patel.

Industry 110
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Customer service, especially field service, helps companies outperform competitors and drive growth

CIO Business Intelligence

We can expect that every company is going to react this way in times of uncertainty. In 2023, CIOs are guided to focus on enhancing workforce engagement, customer experience, and data and AI. For those companies that invest in customer experiences and relationships, the economic upside is already there. Only 26% of U.S.

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