Tax Credits Could Attract Tesla Factory to California

Governor sweetens pot for electric carmaker.

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    NEWSLETTERS

    TK

    What's good for Lockheed Martin will be good for Tesla.

    Big-time tax credits are on tap for the Bay Area-based auto manufacturer, should Tesla decide to build its $5 billion battery factory in the Golden State, according to reports.

    The San Francisco Chronicle reports that a $420 million tax credit signed into law by Gov. Jerry Brown on Thursday -- intended for aerospace company Lockheed -- could also benefit Tesla.

    The authors of the new legislative measures are coy, but it appears that the 15-year-long tax credit opportunity -- available to "battery manufacturing" activities -- is aimed square at luring Tesla to California and not one of the four other states, including Rick Perry's Texas, that would like a Tesla factory and ergo Tesla jobs.