Nevada Bets $1.3 Billion on Tesla to Push Beyond Gambling
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Nevada casinos, the state’s largest industry, took in $11.2 billion in the year that ended in July. Now lawmakers must decide whether to wager as much as $1.3 billion on a project that could help wean the state from its reliance on slot machines and roulette wheels.
Lawmakers began meeting in a special session yesterday to consider tax write-offs for Tesla Motors Inc. to build the world’s largest lithium-ion battery plant near Reno. The incentives may be worth $700 million to $1.3 billion over 20 years -- depending on how much the electric-car maker spends on the so-called gigafactory, according to state documents.