Nevada Offers Tesla Incentives For Battery Plant
Governor 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 $5 billion factory at an industrial park near the Reno suburb of Sparks, as long as lawmakers agree to terms which Sandoval negotiated with the electric car maker. The ultimate cost to taxpayers depends on how much economic activity 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 is calling a special legislative session to approve the package.
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