Saudi Press

Saudi Arabia and the world
Sunday, Jun 01, 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

Saudi Press
0:00
0:00
Close
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
EU Central Bank Pushes to Replace US Dollar with Euro as World’s Main Currency
European and Arab Ministers Convene in Madrid to Address Gaza Conflict
U.S. Health Secretary Ends Select COVID-19 Vaccine Recommendations
Trump Warns Putin Is 'Playing with Fire' Amid Escalating Ukraine Conflict
India and Pakistan Engage Trump-Linked Lobbyists to Influence U.S. Policy
U.S. Halts New Student Visa Interviews Amid Enhanced Security Measures
Trump Administration Cancels $100 Million in Federal Contracts with Harvard
SpaceX Starship Test Flight Ends in Failure, Mars Mission Timeline Uncertain
King Charles Affirms Canadian Sovereignty Amid U.S. Statehood Pressure
Iranian Revolutionary Guard Founder Warns Against Trusting Regime in Nuclear Talks
UAE Offers Free ChatGPT Plus Subscriptions to Citizens
Lebanon Initiates Plan to Disarm Palestinian Factions
Iran and U.S. Make Limited Progress in Nuclear Talks
The Daily Debate: The Fall of the Dollar — Strategic Reset or Economic Self-Destruction?
Trump Administration's Tariff Policies and Dollar Strategy Spark Global Economic Debate
OpenAI Acquires Jony Ive’s Startup for $6.5 Billion to Build a Revolutionary “Third Core Device”
Turkey Weighs Citizens in Public as Erdoğan Launches National Slimming Campaign
Saudi-Spanish Business Forum Commences in Riyadh
Saudi Arabia and Spain Sign MoU to Boost SME Sectors
UK Suspends Trade Talks with Israel Amid Gaza Offensive
Iran and U.S. Set for Fifth Round of Nuclear Talks Amid Rising Tensions
Russia Expands Military Presence Near Finland Amid Rising Tensions
Indian Scholar Arrested in Crackdown Over Pakistan Conflict Commentary
Israel Eases Gaza Blockade Amid Internal Dispute Over Military Strategy
President Biden’s announcement of advanced prostate cancer sparked public sympathy—but behind closed doors, Democrats are in panic
A Chinese company made solar tiles that look way nicer than regular panels!
Indian jet shootdown: the all-robot legion behind China’s PL-15E missiles
The Chinese Dragon: The True Winner in the India-Pakistan Clash
Australia's Venomous Creatures Contribute to Life-Saving Antivenom Programme
The Spanish Were Right: Long Working Hours Harm Brain Function
Did Former FBI Director Call for Violence Against Trump? Instagram Post Sparks Uproar
US and UAE Partner to Develop Massive AI Data Center Complex
Apple's $95 Million Siri Settlement: Eligible Users Have Until July 2 to File Claims
US and UAE Reach Preliminary Agreement on Nvidia AI Chip Imports
President Trump and Elon Musk Welcomed by Emir of Qatar Sheikh Tamim with Cybertruck Convoy
Strong Warning Issued: Do Not Use General Chatbots for Medical, Legal, or Educational Guidance
Saudi Arabia Emerges as Global Tech Magnet with U.S. Backing and Trump’s Visit
This was President's departure from Saudi Arabia. The Crown Prince personally escorted him back to the airport.
NVIDIA and Saudi Arabia Launch Strategic Partnership to Establish AI Centers
Trump Meets Syrian President Ahmad al-Shara in Historic Encounter
Trump takes a blow torch to the neocons and interventionists while speaking to the Saudis
US and Saudi Arabia Sign Landmark Agreements Across Multiple Sectors
Why Saudi Arabia Rolled Out a Purple Carpet for Donald Trump Instead of Red
Elon Musk Joins Trump Meeting in Saudi Arabia
Trump says it would be 'stupid' not to accept gift of Qatari plane
Quantum Computing Threatens Bitcoin Security
Michael Jordan to Serve as Analyst for NBA Games
×