An article on Las Vegas Sun mentioned some of the benefits state of Nevada will get from Tesla Motors Inc (NASDAQ:TSLA) and Intel Corporation (NASDAQ:INTC). Recently, many experts and law makers are criticizing Nevada’s administration for granting Tesla Motors Inc (NASDAQ:TSLA), a huge tax incentives package. Tesla is likely to be granted the biggest and unprecedented tax credit package by the state of Nevada after the state’s senate passed a bill to grant the car maker, an allowance package of $1.3 billion. Nevada’s Assembly is now preparing to pass a bill to support this step. On the other hand, Nevada’s famous university, University of Nevada, Las Vegas (UNLV) is getting a “Cherry Creek” supercomputer made by Intel Corporation (NASDAQ:INTC). Tesla’s $5 billion Gigafactory and Intel Corporation (NASDAQ:INTC)’s supercomputer are likely to open many new horizons in the field of technology, investment and business.
Tesla Motors Inc (NASDAQ:TSLA) is bound to invest $3.5 billion in Nevada in different projects and development programs within next ten years in order to qualify to for the tax waivers. Tesla’s Gigafactory will create 20,000 jobs in the next two decades, according to the article. There will be a creation of 6,500 new jobs immediately in Nevada and Tesla will hire the majority of its new employees from Nevada.
Intel Corporation (NASDAQ:INTC)’s new super computer in Nevada will create more opportunities for learning, technology and education. Similarly, mining industry will flourish because Tesla Motors Inc (NASDAQ:TSLA) will mine Lithium for its batteries from the State of Nevada.
The article argues that tax grants for Tesla Motors Inc (NASDAQ:TSLA) will be compensated by the company and in case the company fails to do so, the state has the right to impose the tax and take back all the waivers. Intel Corporation (NASDAQ:INTC)’s super computer and Tesla Motors Inc (NASDAQ:TSLA)’s factory is a big step towards improvement of the economy for the state of Nevada.
Ken Fisher‘s Fisher Asset Management owns over 18 million shares in Intel Corporation (NASDAQ:INTC).
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