Austin approves tax breaks for Tesla in bid for Cybertruck factory
Photo by Sean O’Kane / The Verge
Officials in Austin have approved a total of at least $60 million in property tax rebates in an effort to bring Tesla’s next electric car factory to the Texas city. Austin is one of the two leading candidates for the factory, which is where Tesla will build the Cybertruck, along with Tulsa, Oklahoma.
Travis County Commissioner’s Court, the policy-making and administrative arm of the local government, approved an agreement on Tuesday that will save Tesla around $14 million in property taxes over the next 10 years. Late last week, the Del Valle school district, which is near where the factory would be located, approved an agreement that would grant Tesla close to $50 million in tax rebates over the same time frame.
The vote was preceded…