Tesla Motors will receive $1.3 billion in tax incentives for building its battery factory in Nevada

See the original posting on The Verge

It’s been almost a year since Tesla first confirmed its plans to build a battery-producing “gigafactory,” and just over a week since the company revealed it would build that factory in Nevada rather than its home state of California. Reuters has details on why: the company is reportedly receiving some $1.3 billion in tax incentives over the next 20 years to bring its gigafactory to the state. Nevada governor Brian Sandoval signed bills on Thursday that tax exeptions for 20 years worth approximately $725 million dollars. Additionally, the company would save an estimated $300 million on payroll and others taxes through 2024.

It’s a good reason for Tesla to look to Nevada, and it should be beneficial for the state’s economy, which was…

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