Mobile Payment Firm Square Moving Into San Francisco Mid-Market Area

SAN FRANCISCO (CBS/AP) — San Francisco’s plans to revitalize its blighted mid-Market neighborhood are getting another boost.

Mayor Ed Lee announced on Monday that the technology firm Square has signed a lease and expects to relocate there in 2013.

The company, which makes a credit card reader for smart phones and other devices, currently has an office elsewhere in the city.

The five-block mid-Market area has been plagued by drugs, muggings and boarded-up storefronts.

City officials have made its revitalization a major goal and approved a tax break for companies there last year. The decision was aimed at keeping Twitter from leaving the city.

The company has since relocated to the mid-Market area.



(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)



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