Tesla has not only been ripping off Nevada, they are ripping off the country. Nevada lawmakers have unwisely in now three cases put the people of Nevada second in a scam of promises that are not fulfilled.
Nevada keeps handing out money to Tesla Motors even though it is not coming close to living up to projections made when the Legislature in 2014 agreed to $1.3 billion in tax breaks and credits in return for the company building a $5 billion, 10 million-square-foot factory battery factory near Sparks.
This week the Governor’s Office of Economic Development agreed to provide Tesla with $8 million in transferable tax credits, bringing the firm’s tax credits to more than $35 million so far, even though the company has created only 331 jobs so far, well under the projected 1,700 jobs, according to a 2014 analysis of the project by Applied Economics.
The factory’s capital investment is also falling short — with only $600 million invested so far, compared to a projected $2 billion.
Since the company has almost no tax liability in Nevada the tax credits can to sold, presumably at…
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