Tesla may receive over $300 million in tax abatements over the next two decades for a massive new expansion of its northern Nevada facility, the product of a...
RENO, Nev. — Tesla may receive over $300 million in tax abatements over the next two decades for a massive new expansion of its northern Nevada facility, the product of a 2014 deal for when the company first came to the area on the promise of new jobs and major investments in the area.
Combined with both its 2014 investment and project expansion where the company received over $1 billion in tax breaks, Tesla is set for over $10 billion in capital investments in northern Nevada between 2014 and 2028, which economic development board director Tom Burns called “ground zero for the energy transition” in a Monday release. The company projected over $750 million in direct and indirect tax revenue from the proposed tax breaks and those approved in 2014.
Concerns rose over a lack of oversight for the board to provide such massive tax breaks, as well as some Tesla employees being on Medicaid, despite the average hourly wage being much higher than the qualifying income. Some democratic lawmakers requested Thursday’s meeting be postponed, though it appears to still be on schedule.
Nevada Gov. Joe Lombardo announced the expansion in January, which applies to an existing operation at the Tahoe Reno Industrial Center, about 20 miles east of Reno-Sparks. The plan takes the company a step closer to accomplishing previously announced plans to ramp up production of fully electric Tesla Semi vehicles, in order to make 50,000 trucks in North America in 2024.
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