Worst/Best Example of Crony Deals and (State) Government Giveaways: $1.75 Billion to Tesla from Nevada

Still, the victory came at an eye-popping price, generating criticism in the press. Nevada is paying more than $200,000 for each of the 6,500 direct jobs the gigafactory is supposed to create. “I read Nevada’s incentive package,” says former New Mexico Gov. Bill Richardson, who negotiated with Tesla for its first assembly plant. “They literally handed over Reno and Las Vegas, lock, stock, and barrel.” Richardson is quick to add, in a rueful comment that captures the bind that states find themselves in, “I probably would’ve done the same thing as Governor Sandoval. It’s a lot of jobs in a recessionary period. You create a new kind of economy in your state.”

($500 Million) +  1000 acres free land + ($43M) road right-of-way + ($70M) for road construction + 20 years without sales tax on equipment and construction materials ( $726M) + 10 no property tax ($349M) + 10 years no payroll taxes ($29M) + ($8M) electricity discount =

Only $1,725,000,000.00 Nevada Taxpayer Dollars (NTD)

This assumes that the battery technology they are following is correct for the market.

via Inside Elon Musk’s $1.4 billion score – Fortune.

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