Why in the world would companies insist on staying in the bay area when they could pay people half in Ohio? This is HN, and story after story talks about how VCs /demand/ you locate yourself in the bay for the talent pool.
Seattle is in no danger of becoming Detroit, or an entire industry leaving, not when software skills are as in demand as they are right now. Its in no danger of Amazon picking up and leaving. Reminder, we're talking about $20 million dollars here, which is less than the budget for benches outside their brand new buildings.
I honestly think it would be a great thing for companies to go set up somewhere else and not over-inflate the 4-5 "chosen" tech areas. Maybe then housing prices can get reasonable, and some town that desperately needs any jobs can get started again.