Company: Tesla Parent Company: Tesla Inc. Subsidy Source: multiple Location: Texas County: Travis Project Description: automobile assembly plant Year: 2020 Major Industry of Parent: motor vehicles Specific Industry of Parent: motor vehicles and energy Subsidy Value: $64,533,663 Program Name: multiple Awarding Agency: multiple Type of Subsidy:
Number of Jobs or Training Slots: 5,000 Wage Data: $47,000 Wage Data Type: average salary with benefits and stock options Capital Investment: $1,100,000,000 Source of Data: Subsidy details: Sean O'Kane, "Austin approves tax breaks for Tesla in bid for Cybertruck factory," The Verge, July 14, 2020; (click here). Musk admission: Sean O'Kane, "Why did Tesla choose Texas when memes pointed to Tulsa?" Tulsa World, August 21, 2020. Travis County minutes of meeting: (click here) (starting at p. 275; or search "Tesla"); Del Valle school district documents: (click here) Notes: In summer 2020, Tesla chose a site in Travis County near Austin over Tulsa, Oklahoma for an electric car manufacturing facility. After the process was over, Elon Musk admitted that Travis County/Austin won because key employees did not want to move to Tulsa. Travis County approved about $14 million in property tax rebates over 10 years and Del Valle school district approved $50,433,663 (80 percent) in property tax abatements via the Chapter 313 program over 15 years. Apparently Texas did not offer state subsidies. At least 50 percent of Tesla workers are supposed to be Travis County residents. Agreements were signed with Colorado River Project, LLC. 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.