The Seattle Times Co. would be subject to the proposed employee-hours tax, “based on what we know today,” company president Alan Fisco said Wednesday in a written response to questions about the tax’s impact.

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The Seattle Times Co. would be subject to the proposed employee-hours tax, “based on what we know today,” company president Alan Fisco said Wednesday in a written response to questions about the tax’s impact.

The company has more than 400 employees based in Seattle, most of whom are full-time, Fisco said. The tax, proposed by members of the City Council, would be levied in 2019 on companies with at least $20 million in 2018 revenue in the city of Seattle.

Fisco said the company is concerned that the so-called head tax “will be an additional financial burden that will take resources away from our news gathering and business model transformation.”

As proposed, the tax would become a 0.7 percent payroll tax in 2021, which would likely lead to an increased tax bill, Fisco said. That’s the same year The Times’ lease expires in the increasingly expensive South Lake Union neighborhood.

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While the company has yet to begin a formal process of looking for another location, Fisco raised the possibility that The Times could look for new offices outside the city of Seattle.

“We will have to weigh all options regarding our overall costs associated with whatever locations we may consider,” Fisco said. “There are many factors that we will have to grapple with in making any final determination.”

The Times newsroom and business operations are in leased space in 1000 Denny Way. The company sold the last of its longtime South Lake Union properties in 2013. It owns and operates a printing plant in Bothell.