The Tesla gigafactory in Nevada has only produced a fraction of the jobs and investment originally projected by the state Governor’s Office of Economic Development in 2014, the Reno Gazette-Journal reported this week.
The facility “is falling far short of the economic impact projections on jobs and capital investment used to persuade lawmakers to approve a record-breaking tax incentive package for the project,” the paper states. “The numbers also have not kept up with the more refined projections used by Tesla in its application for incentives that will allow the company to operate tax-free for a decade, and with substantially reduced taxes for a second decade.”
However, the gigafactory “is on track to meet the legal requirements of the tax incentive package, is actively hiring permanent employees, and has already started producing PowerWall [batteries] for home energy storage,” Damon writes. “The megadeal has also sparked an economic revival in the region and helped draw other major developments to Northern Nevada.”