Any time the costs to the city outweigh the benefit of getting those jobs. Industrial pollution can be a greater detriment than a handful jobs. Or the city can turn over land that would otherwise be put to other uses. Or the jobs might all be people who don't actually live in the city, saddling the city with resulting traffic/pollution issues but with no practical job benefits. I don't know or think that Peloton is going to do such things, but it is very possible for downsides to be greater than the benefit of creating jobs.

A classic example might be a distribution warehouse (not amazon, oldschool warehouse). Maybe there are five or ten people who work at the facility, but the city has to deal with a constant flow of trucks in and out. The downside of those trucks will probably be greater than the handful of jobs a warehouse may generate.