On why getting Elon Musk to move to your state may not be all its cracked up to be.
I had no idea that there was more hype than substance over the benefits from some of his existing factories.
People need to know that Musk’s financial history means Texas won’t get him for free.
Look at his California operations, and you’ll see it required subsidies totaling $1 billion just to get the plants open, and now within a decade, he’s already looking at leaving.
Nevada was no different with its billion-dollar subsidy to get a Tesla plant open. They won a massive bidding war against several contenders, and what did they get for their troubles? Housing issues, a historically dangerous factory, and jobs for a company that’s losing market share in the US, Europe, and China despite mountains of hype.
Musk’s other ventures have seen similar results. How did New York land his solar cell operation? Nearly $1 billion to get that controversial project completed. Since then, it has underperformed to the point where the company has reportedly filed for a one-year waiver of its job creation commitment to avoid a massive penalty.