Tesla Motors Might Benefit From Tax Credits
Tesla Motors might soon benefit from some state-provided incentives.
The American electric vehicle manufacturer, Tesla Motors, might soon benefit from some state-provided incentives. Californian authorities have proposed that if the automaker provides job opportunities to 4426 people, then they would let it benefit from tax credits worth $15,000,000, as reported by Tesla news. It is revealed that the newly hired employees would be assigned to tasks in the company’s facilities in Newark, Lathrop, Hawthorne, and Fremont.
The company has welcomed the initiative of the officials, as its representative, Richardo Reyes, stated that the new proposal would help it create employment opportunities in the state. Tesla news today informed that the year’s third round tax incentives, worth $50,000,000, would be awarded to 63 companies, including Tesla.
A number of these awardees are technologically advanced companies and manufacturers of
Tesla Motors news affirmed that Nevada politicians have also played their role in financing the needs of the automobile manufacturer, as they have subsidized the construction of its lithium-ion battery manufacturing plant in their home state.
Media sources informed that the Governor Rick Perry offered state incentives worth $100,000,000 to Mr. Musk’s SpaceX .The funds were proposed for helping the high-tech company in developing commercial rocket facility in Texas. Tesla’s CEO believes that his ventures are not benefitting from state funds because their contributions in the form of lucrative jobs and latest technologies are more than the investments made by the taxpayers.
Company sources stated that Mr. Musk has claimed his organizations would survive without state-provided assistance. He often answers critics by stating that the oil and gas companies receive much more incentives than his organizations. This clearly depicts that he does not believe in the sole reliance to the state-provided assistance.
Tesla must ensure that the minimum yearly salary of the new jobs is $35,000 to benefit from the state sponsored reward. It has already employed more than 9000 workers in the state and claimed that it is currently working as the largest manufacturing employer of the Californian state. It is expected that the decision regarding the finalization of offer would be made by the state’s GO-Biz California competes tax credit committee on 18th June.
Experts view that if the proposal is finalized, then Tesla and the state authorities would jointly solve the problems of a significant number of unemployed people. It is probable that the proposed awards would lure a number of other companies towards the American state. It should now take steps to hire the new employees in the best possible way; otherwise, it might fail to benefit from the state funds.
