Tesla in line for $15 million in California tax credits - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Tesla in line for $15 million in California tax credits

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SACRAMENTO, Calif. (AP) - Gov. Jerry Brown's administration is proposing a $15 million tax credit to electric vehicle-maker Tesla Motors after California lost out in a heated bidding war for the company's new battery plant.

The Democratic governor's GO-Biz agency on Monday announced 63 proposed tax credits totaling $49.5 million. The companies promise to create more than 11,000 jobs.

The Tesla credit would offset taxes for the Fremont, California.-based company to buy manufacturing, research and development equipment, buy property and hire 4,400 workers.

California lost out last year in a heated bidding war for the company's $5 billion battery factory. Brown said then that he didn't think what Tesla sought would be fair to taxpayers. Nevada won after offering $1.3 billion in tax breaks.

A state board will consider the tax credits June 18.

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