The council quite openly sees economic growth as the source of all it's problems, which they have mostly created for themselves. As they have no idea how to manage these problems, and as most of their attempts to do so have in fact made them worse, the only thing they can do to further shirk responsibility is to implement more taxes.
It's hard to see why a business today would plan to base itself in Seattle, or expand on operations there. If Amazon hadn't already completed so much of the construction on its latest building there, I can't imagine they'd be committing to finishing it. Which will all in turn make Seattle's problems even worse.
