Elecktrek reports Tesla has been approved for a tax break from local school district Del Valle Independent School in Austin, Texas. This is a key move for Tesla as it saves over $50 million in taxes for the next decade. Money Tesla would have paid in taxes for the new Gigafactory will go to the school district instead.
However, before the contract is made official, Tesla now needs approval from Travis County commissioners. This is to receive an additional tax abatement for the new factory.
Travis County, proposed the deal to Tesla back in June, hoping to get them on-board to build the new Gigafactory in mid-Texas. It is quite likely commissioners will approve the deal.
Tesla hopes to build the new Cybertruck and Model Y in the Texas plant (codenamed “Colorado”). The factory itself is based just outside of the Texas capital, Austin. It will be 2,100 acres and will cost a billion dollars. The Austin plant will eventually create around 5,000 jobs, increase the value of Tesla and boost the Texas economy.
Tesla currently has four factories. The main factory is located in Fremont California, a second one in Buffalo, New York, a third in Shanghai, China and a fourth being built in Berlin, Germany. They also have testing grounds in the Netherlands.
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