Nevada strikes $1.25 billion tax break deal with Tesla
The tax incentive package assembled by Gov. Brian Sandoval to woo Tesla's gigafactory is unprecedented in size and scope for the state of Nevada and is one of the largest in the country.
The overall value to Tesla is estimated to be $1.25 billion over 20 years — a figure that is more than double the $500 million package CEO Elon Musk said would be required to draw the company. If the deal is approved by the Nevada Legislature, Tesla will operate in the state essentially tax free for 10 years.
Go here for the full story.