Mercado Libre, the Argentine e-commerce giant founded by Marcos Galperin, announced the closure of its offices in Córdoba due to the high municipal taxes imposed by the local government under Mayor Martín Passerini. The company reported that it pays approximately 770 million Argentine pesos monthly in local taxes, which is nearly 24 times the cost of the office rent. As a result, Mercado Libre will transition its Córdoba workforce to 100% remote work starting in August, maintaining all jobs despite the office closure. Concurrently, Mercado Libre plans to invest US$65 million in establishing a new logistics center in the Tres de Febrero district of Buenos Aires Province. This investment, made in partnership with the real estate developer Grupo Posadas, aims to improve delivery speeds, with a goal of having 50% of shipments delivered within 24 hours by the end of the year. Tres de Febrero is governed by Diego Valenzuela from the La Libertad Avanza party, who has implemented deregulation and reduced municipal taxes, factors that influenced Mercado Libre's decision to relocate its logistics operations there after leaving Córdoba.