Tesla Motors To Receive $1.3 Billion In Tax Incentives For Nevada Gigafactory

By: | October 20th, 2014

Many people were caught off guard when Tesla Motors announced plans to build the company’s massive battery-producing “gigafactory” in Nevada rather than Tesla’s home state of California.

However, more details have now emerged explaining why Elon Musk chose Nevada and the decision comes down to money.

Tesla will reportedly receive $1.3 billion in tax incentives over the next 20 years to bring its gigafactory to Nevada.

Also, Tesla Motors will save approximately $300 million on payroll and other taxes through 2024.

Nevada governor Brian Sandoval said, “Nevada has announced to the world — not to the country, but to the world — that we are ready to lead.”

The gigafactory alone will create 6,500 factory jobs, half of which will be reserved for Nevada residents, and upwards of 3,000 construction jobs when the project commences.

Michael Cooney

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