Tesla request tax relief package totaling $412 million

Tesla is requesting $412 million in additional tax abatements and reimbursements to be approved by the Nevada Governor’s Office for Economic Development so the company can expand their gigafactory, News From The States reported.

Tesla also wants $3.5 billion in capital investments and funding for housing, transportation and child care for their employees.

If the package is approved, it will be the third largest assistance package in Nevada’s history.

From News From The States: "Tesla last month announced plans to build an electric battery manufacturing facility and a high-volume semi-truck factory projected to bring $3.6 billion in capital investment over a decade and 3,000 new jobs with an average wage of $33.49 per hour."

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Tesla says that “approximately 90%” of its current employees are local residents and were before they began working for the car company. As News From The States points out, Nevada state law requires that 50% of all employees and 50% of construction workers on a tax-abated project be residents of the state.

Tesla says the expansion project will bring "$395.5 million in direct new tax revenue and $370.5 million in indirect tax revenue over the 20 year tax abatement period."

Read the full report over at News From The States.