Economy
Reno Won Tesla's Gigafactory. Was It Worth It?
It's the 10th largest incentive deal ever, with Nevada paying nearly $200,000 per job.
Reno, Nevada, won Tesla’s new $5 billion Gigafactory, doling out a reported $1.25 billion in incentives to seal the deal. “The Gigafactory will mean nearly $100 billion in economic impact over the next 20 years,” Governor Brian Sandoval said in his announcement Thursday.
The company’s decision comes after a five-state competition, which included Texas, Arizona, New Mexico, and Tesla’s home state, California. The factory, a joint venture with the Panasonic Corporation, will not produce Tesla cars, but rather the lithium-ion battery packs that power electric vehicles.