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Tesla gigafactory: State budget watchdogs urge restraint on tax breaks, incentives

August 27, 2014 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

Now budget watchdogs from Arizona, California, Nevada, New Mexico and Texas have jointly written an open letter to the states, urging them to rethink economic development and avoid giving away too much in tax breaks and incentives to corporations.

"This process is so crazy. Tesla is in the driver’s seat on this, and five governors are falling over themselves," Chris Hoene, executive director of the California Budget Project, said in an interview Tuesday. "The gigafactory is a big fish to land, but it’s a pretty high price to pay."

By Dana Hull

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Full Story: http://www.mercurynews.com/business/ci_26410506/tesla-gigafactory-california-busget-watchdog-urges-restraint-tax-breaks