London Daily

Focus on the big picture.
Saturday, Jun 21, 2025

Tesla nets massive Nevada tax breaks for electric vehicle factory expansions

Tesla nets massive Nevada tax breaks for electric vehicle factory expansions

Electric car manufacturer Tesla plans to expand vehicle battery and semi-truck manufacturing operations in Nevada

The State of Nevada awarded Tesla more than $330 million in tax breaks for the electric vehicle manufacturer’s plans to expand its vehicle battery facility and semi-truck plant.

In a press release on Thursday, Nevada Gov. Joe Lombardo’s Office of Economic Development announced it had approved a $330,250,366 abatement for Tesla, Inc.

The announcement comes as Tesla has pledged to make a $3.6 billion investment at its Storey County facility and create 3,000 jobs at an average hourly rate of $33.49.

"Tesla has far exceeded every promise they made going back to 2014," Lombardo said. "To date, they have invested $6.2 billion in Nevada, built a 5.4 million square foot Gigafactory which provided 17,000 local construction jobs and created more than 11,000 highly paid permanent jobs."

The release said Tesla has plans to add 4 million square feet between two new factories.

One of the factories will manufacture 100-gigawatt-hour battery cells and have the capacity to make batteries for 1.5 million light duty trucks per year.

Tesla cars are parked at the construction site of the new Tesla Gigafactory for electric cars in Gruenheide near Berlin, Germany, Friday, March 18, 2022.


The other factory will manufacture fully electric semi-trucks with a range of 500 miles.

According to the press release, 9,275 construction jobs and 5,858 additional jobs will be created because of the projects for the next four years.

The expansion also could bring in $2.2 billion per year, or $38 billion over the next 20 years, and the 3,000 people Tesla will employ at the factories once up and running will generate $209 million in annual wages by 2030.


On top of that, Tesla should generate an estimated $21.8 million in gross average annual property tax revenues and $11.2 million in gross average annual sales taxes.

In total, the establishment of the factories is estimated to pull in $685 million in net state and local revenues over the next 20 years, the press release said.

"Since the inception of [Governor’s Office of Economic Development,] the main goal has been to diversify Nevada’s economy," Tom Burns, GOED Executive Director said. "The Nevada-Tesla partnership cemented a new economic sector in Nevada for the manufacturing of electric vehicle battery packs and drive units, and energy storage products. Tesla’s Gigafactory propelled Nevada’s manufacturing industry, establishing lithium-ion batteries as the state’s eighth largest export both nationally and internationally."

Tesla also had an abatement agreement in 2014. Because of that agreement, Tesla will begin paying at least $53 million in real and personal property taxes and business taxes for the Gigafactory starting on July 1, 2024.

Newsletter

Related Articles

0:00
0:00
Close
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
UK Home Secretary Apologizes Over Child Grooming Failures
Trump Organization Launches 5G Mobile Network and Golden Handset
Towcester Hosts 2025 English Greyhound Derby Amid Industry Scrutiny
Gary Oldman and David Beckham Knighted in King's Birthday Honours
Over 30,000 Lightning Strikes Recorded Across UK During Overnight Storms
Princess of Wales Returns to Public Duties at Trooping the Colour
Red Arrows Use Sustainable Fuel in Historic Trooping the Colour Flypast
Former Welsh First Minister Addresses Unionist Concerns Over Irish Language
Iran Signals Openness to Nuclear Negotiations Amid Ongoing Regional Tensions
France Bars Israeli Arms Companies from Paris Defense Expo
King Charles Leads Tribute to Air India Crash Victims at Trooping the Colour
Jack Pitchford Embarks on 200-Mile Walk to Support Stem Cell Charity
Surrey Hikers Take on Challenge of Climbing 11 Peaks in a Single Day
UK Deploys RAF Jets to Middle East Amid Israel-Iran Tensions
Two Skydivers Die in 'Tragic Accident' at Devon Airfield
Sainsbury's and Morrisons Accused of Displaying Prohibited Tobacco Ads
UK Launches National Inquiry into Grooming Gangs
Families Seek Closure After Air India Crash
Gold Emerges as Global Safe Haven Amid Uncertainty
Trump Reports $57 Million Earnings from Crypto Venture
Trump's Military Parade Sparks Concerns Over Authoritarianism
×