Posted on 09/06/2014 6:24:46 AM PDT by rktman
While continuing to collect massive corporate welfare from the Golden State, Tesla and its CEO Elon Musk can look forward to a business environment in Nevada with zero corporate income tax, zero individual income tax, plus lower sales and property taxes.
Nevada is ranked 3rd best in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property.
(Excerpt) Read more at americanthinker.com ...
State needs jobs created by the free market in the Las Vegas area. Instead they get corporate welfare in a different area. People will probably have to be politically connected “know somebody” to even get these subsidized jobs.
Nevada sounds better all the time.
Not really.
He cannot make money building a $5 billion dollar factory to churn out batteries for cars. Even if he were the only supplier in the world, he would still lose money.
Assuming it is not another boondoggle, he’d have to be thinking of other applications, like solar power.
Don’t forget Dirty Harry Reid probably has both hands on this deal.
Oh, he is. Think “Solar City”. I’m sure punk/puke hairy screed has his scrawny fingers in the pie someplace.
They will build them in Area 51 so that no one will see them or buy them. Really stealthy.
Is it really a battery factory, or is it just a subsidy generator that's making batteries because that's what he can get subsidies for?
Tax breaks for all or tax breaks for none. Anything else is crony capitalism.
“Don’t forget Dirty Harry Reid probably has both hands on this deal.”
Fo sure, both hands, both feet and that weird son of his....
I wonder how much Elon Musk gave to Harry Reid to get those tax breaks.
He’ll get huge state and federal grants, skim off about 20%, dump all the costs on the government and walk away when it fails without ever paying a dime in taxes.
None of these ‘Gang-Green’ companies have ever turned a taxable profit, and never will.
A123 Systems in Michigan got millions in subsidies and tax breaks and ended up paying people to hang out for something like 2 years. They never produced a single battery and assets were eventually sold to China.
None of them will ever turn a taxable profit, when the government money runs out they close.
Cut off subsidies and mandates for ethanol and they all close too. Gang-Green is a scam on the taxpayers.
“Actually, the proposed factory is NOT in Reno or Sparks or even Washoe County.”
News reports have said that Tesla has broken ground on property that’s located 8 miles east of Reno (which is most likely still in Washoe County). Further that adjacent counties (Lander and Storey) are also in on the deal because they are actually where a lot of the workers would live.
What I fail to understand is why a lot of you call what’s going on “giving away taxpayer funds.” From what I have read, all that the various government entities are doing is agreeing NOT to start taxing the plant from the get go. So there’s not money flowing to Tesla from the government. Nobody has been asked to pass a bond issue to provide money (like a lot of places do to give a sports franchise a new place to play). Now, maybe there will need to be some additional infrastructure built, but how is that any different that what happens when a developer builds a tract of homes? They never pay the true cost of all the additional infrastructure that their buildings require, and the homes don’t provide any long-term employment. In this instance, Tesla will give construction workers jobs (and I know for a fact that construction has been on it’s a$$ in Reno for years because I have relatives there who have been eking out a living there in construction), and there will be more than 6,000 permanent jobs created (with people paying income and other taxes locally. Eventually, Tesla will also be paying taxes too. So tell me, just how is this a bad deal for Northern Nevada as opposed to not having Tesla move there? This isn’t another Solyndra. No government entity is giving any money directly to Tesla to implement their technology at least insofar as Nevada is concerned.
Wonder what they will use for water?
It’s in Storey County before you get to Fernely which is Churchill County. I suppose a lot of folks are concerned due to revenue not gained over the years before they start getting taxed. Jobs are good.
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