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How It Adds Up

Three companies, $4.9 billion in government support

Elon Musk's companies enjoy $4.9 billion in government support. Here's the breakdown.

Elon Musk's California companies — Tesla, SolarCity and SpaceX — have enjoyed at least $4.9 billion in government support.

Here's how the subsidies add up:

TESLA MOTORS: $2.391 billion total

$1.29 billion — Nevada tax incentives for Gigafactory

$45 million — Value of discounted Department of Energy loan

$90 million — California Alternative Energy and Advanced Transportation Financing Authority

$517.2 million — Sale of California and other regulatory credits

$284 million — Estimated value of federal income tax credits for eligible U.S. buyers of Model S sedans

$38 million — Value of California rebate for California buyers of Model S sedans

$126 million — California Self-Generation Incentive Program

$647,626 — California job training reimbursement

SOLARCITY: $2.516 billion total

$750 million — New York State cost to build solar panel factory

$1.5 billion — Estimated value of 30% subsidy for solar installation since 2006, including at least $497 million in Treasury grants

$5.6 million — Oregon tax credits and rebates

$260 million — New York local property tax exemptions

SPACE EXPLORATION TECHNOLOGIES: $20 million total

$20 million — Texas state and local incentives and rebates for space launch facility near Brownsville

Sources: Staff research; Securities and Exchange Commission filings; Good Jobs First estimates of incentive value; California and New York state records; interviews with local and state officials in California, New York and Texas; estimates of discounted loan value from credit analysts; estimates of average solar installation cost from the Union of Concerned Scientists; estimates of Tesla U.S. car sales from IHS Automotive

jerry.hirsch@latimes.com

 

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