Tesla Expands Storey County, Nevada, Manufacturing Operations
03/03/2023
The new 100-gigawatt-hour battery cell factory will have enough capacity to produce batteries for 1.5 million light duty vehicles annually. The other will be the company’s first Semi factory, a fully electric combination truck with 500 miles of range. The expansion will total 4-million-square-feet.
“Tesla has far exceeded every promise they made going back to 2014,” said Governor Joe Lombardo, who chairs the GOED Board. “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.”
To support the project the Nevada Governor’s Office of Economic Development Board approved a $330,250,366 tax abatement.
“Since the inception of GOED, the main goal has been to diversify Nevada’s economy,” noted Tom Burns, GOED Executive Director. “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.”
As a result of its first abatement agreement in 2014, Tesla will begin paying an annual minimum of $53 million in real and personal property taxes and modified business taxes relating to the Gigafactory commencing July 1st, 2024, and in perpetuity thereafter, according to state officials.
Project Announcements
Northland Corporation Expands Greenville, Michigan, Operations
08/29/2024
Swedish Match Expands Daviess County, Kentucky, Operations
08/29/2024
Ardent Mills Expands Commerce City, Colorado, Production Operations
08/29/2024
Paul Mueller Company Expands Springfield, Missouri, Manufacturing Operations
08/29/2024
Nashville Wire Products Expands McEwen, Tennessee, Operations
08/28/2024
Crusoe Energy Systems Plans Tulsa, Oklahoma, Manufacturing Operations
08/27/2024
Most Read
-
19th Annual Area Development Gold and Silver Shovel Awards
Q2 2024
-
What the Latest EPA PFAS Rule Means for Site Due Diligence
Q3 2024
-
Semiconductors’ fragile relationship with water may be tested
Q3 2024
-
2023 Top States Commentary: Top-Ranked States Have What It Takes to Win Mega Projects
Q3 2023
-
2023 Top States for Doing Business Meet the Needs of Site Selectors
Q3 2023
-
2023's Leading Metro Locations: Hotspots of Economic Growth
Q4 2023
-
Mitigating Site Risks for Industrial Projects
Q3 2024