From Austin Chamber of Commerce on July 22, 2020
Gigafactory to bring 5,000 jobs, $1B capital investment
AUSTIN, Texas—Opportunity Austin, the Greater Austin Chamber of Commerce’s five-county economic development initiative, today announced Tesla will locate its newest Gigafactory in the Austin region.
“Our community has the strong desire to ensure everyone in our region has opportunities to grow, opportunities to achieve success, and opportunities to provide a better future for their children,” said Opportunity Austin Chair Gary Farmer. “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. 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.”
The new 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 is expected to generate 5,000 direct jobs across the employment spectrum, from entry-level roles to skilled labor and management, with career pathways for those with and without a college degree. Tesla will generate millions of dollars in tax revenue for the local and state governments each year, as well as support thousands of new non-Tesla jobs due to its secondary economic effects.
“In addition to the 5,000 new jobs and $1 billion facility investment, Travis County has been able to take a tract of land that paid $64,000 in tax revenue over 10 years and turn it into a tract that will pay $8 million in tax revenue during the same period,” said Travis County Judge Sam Biscoe. “I am proud of the agreement we have reached. It strikes a balance between incentivizing Tesla, securing significant community benefits, and ensuring protection of workers and the environment.”
As part of its plan to locate the new facility in the Austin region, Tesla intends to invest in the community through workforce initiatives, technical colleges, and programs for K-12 schools.
“We are excited to welcome our new neighbors Tesla into the DVISD community,” said Del Valle ISD Board of Trustees President Rebecca Birch. “From the start, their support, generosity, and commitment to our students has been unwavering. Based on the overwhelmingly positive feedback at both of our public board meetings, this sentiment is shared not only with our board and superintendent, but our community at large. As demonstrated in other locations, Tesla can make a big impact on student learning. We are looking forward to developing multiple pathways to enrich our students’ and community’s lives with programming and employment opportunities. We are confident that Tesla will be ‘DV Proud’ partnering with us on the journey of preparing students for a successful future.”
The Chamber estimates for every position created at the Gigafactory, an estimated four indirect and induced jobs will be created in the region.About Opportunity Austin
Opportunity Austin is the economic development initiative aimed at fostering job-creating investment in the five-county Central Texas region. Top priorities include boosting economic diversification to proactively strengthen the economy, deepening the talent pool through development and attraction, and keeping the Greater Austin region attractive to entrepreneurs, business leaders and site selectors through advocacy on issues such as a comprehensive regional transportation system and regional collaboration. Since 2004, Opportunity Austin has helped bring more than 400,000 total jobs to the Austin region. Learn more about Opportunity Austin here.
Founded in 2003, Tesla is the first successful American automotive startup in more than 50 years. Tesla’s mission is to accelerate the world’s transition to sustainable energy with all-electric cars and clean energy products. Tesla believes the faster the world stops relying on fossil fuels and moves towards a zero-emission future, the better. With more than 40,000 employees around the world, Tesla has created unique compensation and benefits programs that are designed to attract, retain and develop a diverse group of talented individuals who share our mission.