Subsidy Tracker Individual Entry

Company: 
SolarCity Corp.
Parent Company: 
Tesla Motors
Subsidy Source: 
state
Location: 
New York
City: 
Buffalo
County: 
Erie
Project Description: 

manufacturing facility for of solar panels

Year: 
2014
Major Industry of Parent: 
motor vehicles
Specific Industry of Parent: 
motor vehicles
Subsidy Value: 
$750,000,000
Program Name: 
multiple
Awarding Agency: 
multiple
Type of Subsidy: 
MEGADEAL
Number of Jobs or Training Slots: 
1,500
Capital Investment: 
$5,000,000,000
Source of Data: 

Subsidy amount, jobs, and investment data was taken from: Jim Heaney, "Could SolarCity Flare Out?," City & State, 9 October 2014; online at: http://www.cityandstateny.com/2/83/infrastructure/jim-heaney-solar-city-... See also a September 23, 2014 press release from Gov. Cuomo's office; available at: https://www.governor.ny.gov/news/governor-cuomo-announces-new-solarcity-...

Notes: 

The $750 million subsidy package includes $350 million in cash from New York state and $400 million in loans that the state will cover through grants if the company creates the required number of jobs. In addition to the $750 million in public funding, the company will receive a break on property taxes and will be able to participate in the Start-Up New York program (amount of those subsidies have not been reported). The company promised to create 1,500 direct jobs at the facility; additional 1,500 jobs are supposed to be create through a local supply chain. Investment is the amount that the company will spend to build the facility over the next decade. Overlaps with main Subsidy Tracker data: none.

Source Notes: 
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