Tesla Gigafactory Progress From January

Tesla Gigafactory Progress From January

Nevada State Treasurer Dan Schwartz is calling up the Governor’s Office of Economic Development (GOED) to conduct an audit of both Tesla and Faraday Future.

As This Is Reno reports, Schwartz is seeking “more information on the projects GOED funds which have received substantial tax credits and financial assistance from Nevada taxpayers, including Faraday Future and Tesla. Since 2014, the powers granted to GOED have continued to grow.”

Schwartz is insisting that the audit be completed by August 1, 2017. He adds:

“The … audit should examine all documents, confidential or not, which were used by GOED in vetting the projects under (state laws) and the documentation which was provided to GOED which ultimately led to the approval of all projects of these statutes."

“The audit will look into job creation data, amount of money invested in the state by everyone involved with the projects, the process that GOED used to qualify the project, and the rationale for what related documentation is deemed ‘confidential. It is my hope that this audit provides greater transparency for these large scale projects.”

It's not clear why Tesla is being thrown into this (we are pretty sure the Gigafactory is a real project at this point), though the automaker did receive the largest amount of transferable tax credits ever earned by one company in Nevada. However, Schwartz' feelings toward Faraday Future are quite obvious. Schwartz refers to Faraday as a "ponzi scheme."

GOED Executive Director Steve Hill says that he will comply with the audit request. Hill stated:

“We have spoken with the Administrator of the Division of Internal Audits and have expressed our commitment to fully cooperate with any audit the Division determines appropriate."

Source: This Is Reno