Tesla is coming to Travis County

Travis County can officially welcome Tesla to the region. The California electric car maker announced yesterday that it had selected eastern Travis County as the home of its new Gigafactory, which will generate 5,000 new jobs over 20 years and $1 billion in capital investment as well as $8.8 million in tax revenue benefit for Travis County. “It strikes a balance between incentivizing Tesla, securing significant community benefits and ensuring protection of workers and the environment,” Travis County Judge Sam Biscoe said in a statement. As part of the agreement, Tesla will invest 10 percent of its tax rebate funds into community programs, including workforce initiatives, technical colleges and programs for K-12 schools. “It gives us three things we need in East Austin,” Mayor Steve Adler said in his statement. “It gives us thousands of good wage jobs that don’t need a four-year degree. Its factory will be better for people and the planet. It’s an important economic boost in East Austin, especially as we fight the economic effects of the virus.” This formal announcement occurs a week after the Travis County Commissioners Court approved a $13.9 million tax rebate deal to incentivize Tesla to move to the area.