Nevada offers Tesla up to $1.3B for battery plant

CARSON CITY, Nev. (AP) — 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.
Some lawmakers are already on board.  Back in March of 2013, Congresswoman Dina Titus (D) wrote to Tesla Chief Executive Officer, Elon Musk, advocating on behalf of the State.

  "Today's announcement marks a significant step forward for Nevada's economic recovery. With an ever-growing number of tech firms choosing our state for their operations, Nevada is quickly becoming a hub for research and innovation. It is no surprise that Tesla has taken note of the tech boom that has hit the Silver State. As a member of the Transportation and Infrastructure Committee, I will continue to advocate for the kinds of policies that support the growth and deployment of electric vehicles nationwide," Congresswoman Titus said.

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

 This story is AP Modified.


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