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Subsidy Tracker Individual Entry

Company: SolarCity Corp.
Parent Company: Tesla Inc.
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 and energy
Subsidy Value: $750,000,000
Subsidy Value in 2023 Dollars: $969,154,443
Program Name: multiple
Awarding Agency: multiple
Type of Subsidy: 
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: (click here) See also a September 23, 2014 press release from Gov. Cuomo's office; available at: (click here)
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: If an online information source is not working, check the Tracker inventory page for an updated link.