The analysis says that Tesla’s location could open the door for other industry companies and businesses to relocate — in addition to encouraging relocations and expansions.
Bridget Brandt, President & CEO
The new Tesla Gigafactory, set to be located in eastern Travis County, will be one of the world’s largest and most advanced automotive plants and will bring an estimated $1 billion in capital investment to the region.
“Tesla’s decision to locate its newest Gigafactory in Austin will expand and enhance our innovative culture while also providing new and exciting career opportunities for all segments of our Central Texas workforce,” said Opportunity Austin Chair Gary Farmer. “The company’s pioneering spirit and advanced manufacturing technologies will be instrumental in our region’s economic recovery and our sustainable growth for the longer term.”
This is a huge opportunity for Leander. As with any major company moving into the area, we expect to see a trickle-over effect in all of the surrounding cities. These are real jobs for real people during a very difficult time for all of us.
A few of the benefits that Jon Hockenyos, who Travis County hired to analyze the data, found include:
Job creation/unemployment relief — It’s estimated that the plant would create at least 5,000 middle-skill jobs and could possibly add over 4,000 new non-Tesla jobs due to secondary effects.
Millions in tax revenue — The plant would be projected to create over $7 million in new tax revenue for Travis County over 10 years.
And the BIG one for Leander is the potential for the creation of a new energy “cluster development” — The analysis says that Tesla’s location could open the door for other industry companies and businesses to relocate — in addition to encouraging relocations and expansions.
And we should also note that according to the agreement, the company would invest a minimum of 10% rebate value in local programs like Workforce Solutions, Austin Community College, and Capital Metro all of which Leander is a part of and stands to benefit from.
All in all, I wish they has selected a Leander location, but I am very excited about the opportunity this presents for our local economy.