Tesla coming up short of projections

How’s that Tesla Motors tax giveaway working out?

Projections were for the battery gigafactory near Sparks to be employing 1,700 workers by the end of 2016, but the latest progress report shows there are only 477, even though the state has shelled out $59 million in transferable tax credits.

As Montana Skeptic at Seeking Alpha notes, add in the $43 million the state paid of the land for Tesla and that works out to $214,000 per job.

Is there any way Tesla will employ 4,700 at the factory by the end of this year and 6,500 by the end of 2018?

In a special session in 2014 the Nevada Legislature handed Tesla $1.3 billion in tax breaks and credits in return for the company promising to build a $5 billion, 10 million-square-foot battery factory. Its capital expenditures so for amount to $1.1 billion, well short of the projected $3 billion.

 

Since the company has almost no tax liability in Nevada those tax credits can to sold, presumably at a discount, to companies who owe taxes. Tesla already has sold $20 million in tax credits to MGM.

Inside Tesla Motors battery factory.

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13 comments on “Tesla coming up short of projections

  1. Anonymous says:

    Maybe Tesla hired the wrong PR guy?

    I mean, Scott Pruitt says that since Trump took over, the coal industry has increased jobs by 50,000.

    Maybe better to call out this “big gov’ment” guy for being a bold face liar right?

  2. Bruce Feher says:

    No worries! Billionaires always have the taxpayers available for a bailout!

  3. Steve says:

    I put this in the wrong thread…sorry. It belongs here.

    Coal job numbers are figured the same way as so called “green job” numbers were figured.
    Case in point, the guy who collects the plastic bag recycle at Walmart is an official “green job” never mind the fact that guy is also the guy who collects the garbage in the can right next to the bag recycle…..

    You libby liars don’t like it when others use your racket, huh Patrick.

    laugh

  4. The Governor makes sure Tesla gets it’s billion, the Raiders Stadium gets it’s billion, and the students & parents in Nevada hoping for the ESA’s…get what the birds left on the pump handle.

  5. Rincon says:

    The apparent source for Pruitt’s lies, err…numbers: “Mining added 7,000 jobs in May. Employment in mining has risen by 47,000 since reaching a recent low point in October 2016, with most of the gain in support activities for mining.” http://www.factcheck.org/2017/06/scott-pruitt-coal-jobs/
    So is he fraudulent or just stupid?

  6. Rincon says:

    Speaking of jobs – OK so it’s a stretch – “The City University of New York doubled graduation rates in its two year program after offering free tuition, books and even public transportation for students who register full time.” Time 6/12/17 p.47

    Now I know some of you don’t trust Time, so skip by this if that’s you, but for those who believe that this might actually be true, didn’t we agree that better job skills education is sorely needed in this country (In the same article, “…48% of small businesses reported that they couldn’t find qualifies job applicants to fill open positions…” p.46)? Here, we see a stupendous improvement. Is it just possible that some young people are caught in a catch 22 of no skills, but no ability to pay enough to acquire them?

    30 years ago, I doubt if any of us would have advocated forcing high school juniors and seniors pay for the costs of their education, yet nowadays, two years of college is somewhat equivalent to a high school diploma back then. Is it really that ridiculous to treat grades 13 and 14 the same way we treated grades 11 and 12 back then?

    For those who disagree, why do we stop at grade 12? Maybe ALL education from preschool on up should be paid for by the students and their families. Answering my own question, after graduating high school, students were once able to make a decent living with their skills. Post high school education was extra, Not so anymore.

  7. deleted says:

    Rincon:

    The better question is why on earth is the head of the agency in charge of PROTECTING the environment trumpeting increases in the number of employees (lies though they were) in one of the worst industries, environmentally speaking, in the country to begin with?

    Obscenity piled on obscenity.

  8. Rincon says:

    Does anyone really expect a global warming denier to give a rat’s patoot about the environment? Pruitt’s job is to neuter and at least partially dismantle the EPA. Back to the bad old days.

  9. deleted says:

    I’m shocked, shocked I tells you that a private corporation lied.

    Course, they’re just people too right? And free speech etc.

  10. And I’m not shocked that gullible lawmakers believed them.

  11. Steve says:

    credibility = good liar.

    Elon Musk is swimming in credibility.

  12. […] a special session in 2014 the Nevada Legislature handed Tesla $1.3 billion in tax breaks and credits in return for the company promising to build a $5 billion, 10 million-square-foot […]

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