(AP) - Gov. Jerry Brown's administration is proposing a $15 million tax credit to electric vehicle-maker Tesla Motors after California lost out in a heated bidding war for the company's new battery plant.
The Democratic governor's GO-Biz agency on Monday announced 63 proposed tax credits totaling $49.5 million. The companies promise to create more than 11,000 jobs.
The Tesla credit would offset taxes for the Fremont, California.-based company to buy manufacturing, research and development equipment, buy property and hire 4,400 workers.
California lost out last year in a heated bidding war for the company's $5 billion battery factory. Brown said then that he didn't think what Tesla sought would be fair to taxpayers. Nevada won after offering $1.3 billion in tax breaks.
A state board will consider the tax credits June 18.
Follow us for more stories like this
CapRadio provides a trusted source of news because of you. As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.