Subsidy Tracker Individual Entry

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: 
MEGADEAL
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; https://www.theverge.com/2020/7/14/21323977/austin-tesla-tax-breaks-trav.... 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: http://traviscountytx.iqm2.com/Citizens/FileOpen.aspx?Type=1&ID=1893&Inl... (starting at p. 275; or search "Tesla"); Del Valle school district documents: https://www.dvisd.net/2020/07/14/del-valle-isd-no-1496-colorado-river-pr...

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: 
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