Nevada offers Tesla up to $1.3B for battery plant

Nevada offers Tesla up to $1.3B for battery plant
Crews with heavy construction equipment work Thursday, Sept. 4, 2014, at the Tahoe Reno Industrial Center 15 miles east of Sparks, Nev., where Tesla Motors Inc. plans to build a 6,500 worker "gigafactory" to mass produce cheaper lithium batteries for its next line of more-affordable electric cars. (AP Photo/Scott Sonner)

Nevada Gov. Brian Sandoval is asking state legislators to approve tax breaks and other incentives worth up to $1.3 billion over 20 years to bring Tesla Motors' battery factory to the state.

Tesla wants to build the massive, $5 billion factory at an industrial park near the Reno suburb of Sparks—as long as lawmakers agree to terms Sandoval negotiated with the electric car maker.

The ultimate cost to taxpayers depends on how much the factory generates.

Steve Hill, executive director of Sandoval's Office of Economic Development, said that at the low end, the incentives could be worth $865 million.

Hill projected the factory would generate $100 billion for Nevada's economy and create 22,000 new jobs over two decades.

Sandoval will call a special legislative session to approve the package as early as Wednesday.

  • Nevada offers Tesla up to $1.3B for battery plant
    Mustangs graze at the Tahoe Reno Industrial Center 15 miles east of Sparks, Nev., Thursday, Sept. 4, 2014. Tesla Motors Inc. plans to build a 6,500 worker "gigafactory" to mass produce cheaper lithium batteries for its next line of more-affordable electric cars near the center. (AP Photo/Scott Sonner)
  • Nevada offers Tesla up to $1.3B for battery plant
    A tanker passes the Golden Gate Auto Truck Plaza at the Tahoe Reno Industrial Center bound for U.S. Interstate 80, Thursday, Sept. 4, 2014, 15 miles east of Sparks, Nev., near the access road to the site where Tesla Motors Inc. plans to build a 6,500 worker "gigafactory" to mass produce cheaper lithium batteries for its next line of more-affordable electric cars. (AP Photo/Scott Sonner)
  • Nevada offers Tesla up to $1.3B for battery plant
    A guard stops a vehicle at the security checkpoint to enter the site at the Tahoe Reno Industrial Center 15 miles east of Sparks, Nev., Thursday, Sept. 4, 2014. Tesla Motors Inc. plans to build a 6,500 worker "gigafactory" to mass produce cheaper lithium batteries for its next line of more-affordable electric cars. (AP Photo/Scott Sonner)
  • Nevada offers Tesla up to $1.3B for battery plant
    In this June 22, 2012 file photo, Tesla CEO Elon Musk waves during a rally at the Tesla factory in Fremont, Calif. Tesla Motors has selected Nevada for a massive, $5 billion factory that it will build to pump out batteries for a new generation of electric cars, a person familiar with the company's plans said Wednesday, Sept. 3, 2014. (AP Photo/Paul Sakuma, File)
  • Nevada offers Tesla up to $1.3B for battery plant
    This Aug. 1, 2014 file photo shows security guards at the gate to the site Tahoe Reno Industrial Center about 15 miles east of Reno, Nevada. Tesla Motors has selected the site in Nevada for a massive, $5 billion factory that it will build to pump out batteries for a new generation of electric cars, a person familiar with the company's plans said Wednesday, Sept. 3, 2014. (AP Photo/Scott Sonner, File)

Explore further

Tesla selects Nevada for battery plant (Update)

© 2014 The Associated Press. All rights reserved.

Citation: Nevada offers Tesla up to $1.3B for battery plant (2014, September 5) retrieved 25 November 2020 from https://phys.org/news/2014-09-nevada-tesla-13b-battery.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no part may be reproduced without the written permission. The content is provided for information purposes only.
0 shares

Feedback to editors

User comments