Before reading the following excerpt, understand that these business decisions were made during the GOP campaign for the presidency. Trumps promise for business tax reductions no doubt made the Tesla/Panasonic commitment all the more serviceable. New York has been on a tax-reduction campaign for several years, now, promising a 10 year reprieve on its repressive tax requirements in the hopes of attracting companies such as Panasonic and Tesla. With Trump's pledge to reduce federal taxation collections, when New York reintroduces its tax burden at the end of the ten year period, the larger benefit of a federal tax reduction will be in place and everyone wins ~ editor.
Associated Press
Associated Press
BUFFALO,
N.Y. (AP) — Japanese electronics company Panasonic and U.S. electric
car maker Tesla said Tuesday they plan to begin production of solar
cells at a factory in Buffalo, New York.
The
two companies said they finalized an agreement calling for Tokyo-based
Panasonic to pay capital costs for the manufacturing. Palo Alto,
California-based Tesla made a "long-term purchase commitment" to
Panasonic.
Production
is due to begin in mid-2017. Tesla said it will create 1,400 jobs in
Buffalo, 500 in manufacturing and plans further expansion in Buffalo.
Panasonic also is to work with Tesla on next-generation technology, the companies said.
New
York state has committed $750 million to build and outfit the plant at
Buffalo's RiverBend site, the centerpiece of Democratic Gov. Andrew
Cuomo's "Buffalo Billion" program to revitalize the upstate region's
largest city.
SolarCity
has committed to investing $5 billion over 10 years in New York state,
hiring almost 1,500 workers at the Buffalo plant for five years and
employing at least 2,000 more people across New York in exchange for use
of the state-owned plant.
In
October, when word emerged about the possible manufacturing
collaboration, the head of New York state's economic development agency
said SolarCity will be held to job creation promises made when the state
committed funding to build and outfit the plant, which is expected to
begin production next summer.
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