Name: Tesla
Uploaded: 2014-09-04
Duration: 1 min 26 s
Description: Tesla

Tesla has finally picked a suitor state for its upcoming battery factory. Nevada beat out Arizona, California, New Mexico, and Texas for the highly sought after factory, which expected to bring in billions in economic development, and 605, 000 jobs by 2020, according to USA Today. The speculation, and subsequent unnamed sources confirmed news, started to pour in after Nevada Governor Brian Sandoval tweeted about an economic development in the state. Tesla asked each of the competing states to provide and incentive package equal to about 10 % of the total cost of the project. And it appears Nevada was able to give Nevada was able to give Tesla what it wanted. As the Los Angeles Times reports, Tesla has been leasing and developing a site in Reno, Nevada since early site. While it hasn't been confirmed is Tesla's gigafactory, it would certainly be quite the coincidence. The so called gigafactory will cost $ 5 billion to build. Tesla announced, in July, it was partnering up with Panasonic to build the factory and manufacture batteries for Tesla vehicles and the stationary storage market. CNBC, the outlet that originally broke the story, says the contract is still under negotiation, but could be ready in a week. The source is reported to have come from within the Nevada governor's office. Governor Sandoval will be hosting a press conference about a, quote, major economic development at 4 PM Pacific daylight time on Thursday