Budget watchdogs urge restraint on tax breaks for Tesla plant

carrot-and-stick-complianceContra Costa Times

The fierce competition among five states to land Tesla Motors’ planned “gigafactory” for battery production has been the economic development story of the summer.

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.”

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