Tesla Motors says it’s secured 90 acres between San Jose and Santa Clara, CA to build its world headquarters. Oh, and production facilities for its (supposedly) upcoming Model S (nee White Star) sedan. The announcement is creating all kinds of excitement among the kind of people who use terms like “green collar jobs” and “cleantech.” “It’s not just another solar company,” says San Jose Mayor Chuck Reed. “It’s an electric car, which has tremendous upside for us, and a whole new area of job potential.” And of course that excitement translates into taxpayer handout. The San Jose Mercury reports that the City of San Jose will sign a 40-year lease with Tesla for the land, providing the first 10 years rent-free. “In years 11 to 20, Tesla will pay $1.5 million a year for the property, and then see rent increases of 2 percent a year in years 21 to 40. Tesla will pay the usual development fees… but the city will look for a way to rebate them over time once tax revenues start flowing in from the company.” Governator Schwarzenegger has already offered to waive sales taxes on the first $100m of equipment purchased for the factory (angering not a few non-automotive manufacturers). And the plant is being built using a $150m federal Department of Energy loan guarantee. Hey, what happened to the whole Tesla in New Mexico deal? Nothing.
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