Los Angeles Times

A windfall of government money

-

Elon Musk’s California companies— Tesla, SolarCity and SpaceX— have enjoyed at least $4.9 billion in government support.

TESLA MOTORS

Total: $2.391 billion $1.29 billion— Nevada tax incentives for Gigafactor­y

$45 million— Value of discounted Department of Energy loan

$90 million— California Alternativ­e Energy and Advanced Transporta­tion Financing Authority

$517.2 million— Sale of California and other regulatory credits

$284 million— Estimated value of federal income tax credits for eligible U.S. buyers of Model S sedans

$38 million— Value of California rebate for California buyers of Model S sedans

$126 million— California Self-Generation Incentive Program

$647,626— California job training reimbursem­ent

SOLARCITY

Total: $2.516 billion

$750 million— New York State cost to build solar panel factory

$1.5 billion— Estimated value of 30% subsidy for solar installati­on since 2006, including at least $497 million in Treasury grants

$5.6 million— Oregon tax credits

and rebates

$260 million— New York local property tax exemptions

SPACE EXPLORATIO­N TECHNOLOGI­ES

$20 million— Texas state and local incentives and rebates for space launch facility near Brownsvill­e Sources: Staff research; Securities and Exchange Commission filings; Good Jobs First estimates of incentive value; California and New York state records; interviews with local and state officials in California, New York and Texas; estimates of discounted loan value from credit analysts; estimates of average solar installati­on cost fromthe Union of Concerned Scientists; estimates of Tesla U.S. car sales from IHS Automotive

Newspapers in English

Newspapers from United States