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Pinal County becoming electric vehicle hub

Posted by   /  October 5, 2018  /  No Comments

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Real Estate Daily News

Coolidge City Council gave the green light to Electric Vehicle Innovator, Nikola Corp Plans to develop a million-square-foot semi-truck plant within the Coolidge city limits last month.

The facility, which is anticipated to bring more than 1,700 jobs to the region, will be located near Houser and Vail roads along State Route 87 — land that is part of the Saint Holdings LLC’s Inland Port.

The Economic Development Retail Tax Incentive Agreement stipulates that the city will support Nikola’s proposed manufacturing facility to obtain a designation as a Foreign Trade Zone. The designation would cut the property tax assessment on the proposed site from 18 percent down to just 5 percent.

The city would also provide a number of tax incentives to Nikola Corp., including a 49 percent reimbursement of sales tax (over a period of 10 years) paid by the company during the construction of the facility.

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