Nevada Governor signs $1.3 billion tax break package for electric car maker Tesla

A Tesla Motors logo is shown at a Tesla Motors dealership at Corte Madera Village, an outdoor retail mall, in Corte MaderaBy Sandra Chereb CARSON CITY Nevada (Reuters) – Nevada Governor Brian Sandoval signed a package of bills on Thursday to provide $1.3 billion in tax breaks and other incentives for Tesla Motors, putting a bow on the deal for the electric car company to build a massive factory in the state. “Nevada has announced to the world – not to the country, but to the world – that we are ready to lead,” Sandoval said, to applause. Tesla, founded by entrepreneur Elon Musk, decided to locate its factory in Nevada after negotiating with several states, including Texas, Arizona, New Mexico and the company’s home state of California. To clinch the deal, Sandoval promised that tax credits and other incentives would be available for up to 20 years.

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