California Board Approves $15 Million Tax Credit for Tesla

California Connection
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A state economic development board has approved $15 million in tax credits for electric vehicle-maker Tesla Motors.

California Competes approved the credit Thursday on a 4-1 vote. Board member Madeline Janis opposed it, asking about negative publicity over subsidies to Tesla.

Tesla, which is based in Fremont, is promising to create 4,400 new jobs in the state in exchange for the credit in 2019.

Diarmuid O’Connell, vice president of business development for Tesla, says the carmaker is committed to California despite its high-profile decision to build a $5 billion battery factory in neighboring Nevada.

O’Connell says Tesla is now California’s largest manufacturing employer, with 9,000 jobs in the state.

The state board is considering credits worth $49.8 million for 63 companies that applied through Gov. Jerry Brown’s GO-Biz agency


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