Austin, TX

Tesla to Create $10 Billion Gigafactory Next to New Texas Headquarters Creating 20,000 Jobs for Residents

Sharee B.

Elon Musk has recently been snapping up homes in order to create additional room for his SpaceX testing grounds. However, the genius entrepreneur is also known for putting his money where his mouth is. Recently making headlines for paying "more taxes than any American in history", the electronic car maker, is creating a huge employment opportunity in the Lone Star State.

Earlier this year, after a battle with California over tax rates, Musk declared that he would be relocating his Tesla headquarters to Texas, in order to reduce the amount of income tax that he and his employees would ultimately pay. While he received millions in incentives to relocate his business, some of those funds will go towards providing more than 20,000 additional jobs to residents in the area.

Tesla's new Gigafactory, which is under construction in the Austin area will cost him at least $10 billion dollars to build. The upcoming factory, which is located right next to the new headquarters, sits on a site of over 2,000 acres along the Colorado River.

Employees of the companies headquarters were also relocated to Austin earlier this year after Musk officially declared the move in an SEC filing.

The gigafactory will be instrumental in the production of designs such as the Model Y, Cybertruck, and Semi brand vehicles. According to documents, the factory is slated to be completed or at least open by the end of the calendar year. The new move will give the vehicle manufacturer a workforce of nearly 100,000 employees between all of its locations.

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