Posted on 12/11/2016 8:47:50 AM PST by artichokegrower
In the never-ending competition among states for jobs, Arizona stung California by enticing Lucid, a Menlo Park-based electric car company, to build its factory in Case Grande.
But as Deana Carrillo has concluded, “Every company has its black box.” They all have internal reasons for coming, staying or departing for greener tax-subsidized pastures. Carrillo is executive director of the entity within Treasurer John Chiang’s office that goes by the unwieldy name of the California Alternative Energy and Advanced Transportation Financing Authority.
The authority had offered a $44 million sales tax break to Lucid. However, the Arizona Commerce Authority offered $46.5 million, The Arizona Republic reported. Unlike California, Arizona is a low-cost, low-tax state. Perhaps most significantly, Lucid will be manufacturing many of its parts just across the border in Mexico where labor is cheap.
(Excerpt) Read more at sacbee.com ...
Much has been made of Trump's assistance to Carrier Air-conditioning but somehow Tesla has been ignored. Subsidize $100,000 cars for buyers who then receive a $10,000 tax break.
How much of a tax exemption do I receive, If I purchase a house in California?
“How much of a tax exemption do I receive, If I purchase a house in California?”
Depends on your age and to what county you are moving within the state. Some counties still allow you to keep your Prop 13 property tax level on a new home in their county. From out of state, nothing. Property taxes are 1% of the assessed value plus any additional taxpayer-approved bonds, but once you’re in, the taxes may only be increased by a maximum of 2% per year. A good deal for those of us who have stayed in our homes for long periods of time, are now retired, and can still afford to stay in the homes we bought and paid for during our working lives.
Example: My home $7700 (been in it for 30+ years). Home across the street that sold last year $21,000 per year.
The Tesla/Elon Musk situation is one I will be watching before deciding whether a President Trump is going to be a good President from an economic perspective.
If Musk finds himself subsidy-free within a few years due to Trump’s actions, the economy will be doing very well. If nothing changes, or if Musk has increased his freeloading on the taxpayer, we’ll be in a lot of trouble economically.
My bet is that Musk will see his subsidies disappearing, since Trump is appointing people who appear to be very skeptical of the global warming game.
Inside Nevada’s $1.3 billion gamble on Tesla
Tesla could take in nearly $1.3 billion in tax benefits for building its Gigafactory in Nevada
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