The company's investment will expand the existing Gigafactory facility by 4 million square feet in Storey County and add two new factories: a cell factory to produce 2 million light-duty vehicle batteries per year and the company's first high-volume factory to produce the Tesla Semi, a Class 8 semi-truck entirely powered by electricity. The investment is expected to create more than 3,000 jobs in the Reno-Sparks area.
Tesla's Investment Part of the "Manufacturing Boom" of Biden Administration
White House infrastructure chief Mitch Landrieu lauded the announcement as evidence of the Biden administration's strength. Landrieu called Tesla's investment part of a "manufacturing boom of President Biden's first two years" that will bring more than 3,000 jobs to the Reno-Sparks area. He also mentioned that it would create more than $300 billion in private sector investment in clean energy and semiconductor manufacturing announced since the President took office.
Tesla's Investment in Nevada to Qualify for Tax Incentives
Tesla has yet to apply for tax incentives for its new project in Nevada, according to the Nevada Governor's Office of Economic Development (GOED). Nevada law automatically provides tax credits and discounts for qualified projects in which capital investment is more significant than $3.5 billion over ten years, as long as 50 percent of the employees are Nevadans and the company meets specific wage and health insurance requirements. The size of the new investment qualifies for the tax incentives.