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Tesla Expands Storey County, Nevada, Manufacturing Operations

Tesla, Inc., plans to establish two gigafactories at its manufacturing site in Storey County, Nevada. The $3.6 billion project is expected to create 3,000 jobs.

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.

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