Tesla one step closer to building new Gigafactory in Texas

Gigafactory 1

The tug-of-war battle to entice Tesla to build their next US Gigafactory continues as a new incentive agreement was approved on Thursday.

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The Del Valle Independent School District in Austin, Texas approved the incentive agreement which would see Tesla save more than $68 million on its portion of the property tax bill paid to the school district, according to KXAN.

The savings come in the form of capping the value of the property for property tax purposes for 10 years.

Tesla recently applied to build a 4-5 million square foot Gigafactory in Austin, on a plot of land approximately 2,100 acres in size.

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Proposed location for Tesla Gigafactory in Del Valle, Texas (Travis County Photo)

This is just one of the many incentives being placed in front of Elon Musk to secure the massive investment and local economic spin-offs that result from building such a huge factory.

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Tesla CEO Elon Musk personally visited Tulsa, Oklahoma last weekend to personally visit the potential site there and discuss the opportunity with local officials.

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