How It Adds Up: Three companies, $4.9 billion in government support
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
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