Tesla recently chose Nevada as the site for its 5-million-square-foot battery factory. According to initial estimates, the factory will potentially have a $100-billion economic impact over 20 years, with direct and indirect job creation totaling upwards of 22,000 positions. In a recent special session, the Nevada State Legislature approved four bills that will provide Tesla with the largest incentive package in Nevada’s history, totaling roughly $1.3 billion over 20 years. In addition, the company has agreed to make contributions to education in the state as well as make the hiring of Nevadans and veterans a priority.
Tesla’s battery manufacturing facility, or “Gigafactory”, will be located in Storey County, and at more than 5 million square feet, the facility is expected to be one of the largest buildings in the world. The company plans on investing $5 billion in the project within the first 3 to 5 years, with $1 billion sourced to constructing the building and another $4 billion sourced to equipment purchases. An additional $5 billion is planned for future equipment replacements, for a total investment of $10 billion. More than 3,000 construction workers are estimated to be employed to build the facility and install equipment over a three-year period.
Click here to read more