Tesla to redeploy 100 employees from former SolarCity Draper office

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  • liberal larry Salt Lake City, UT
    Oct. 18, 2018 12:20 p.m.

    I wonder if the 30% tariff our esteemed President, slapped on Chinese solar panels is part of this story!

  • Makid Salt Lake City, UT
    Oct. 18, 2018 11:28 a.m.

    @utlosttheirminds, isn't it grand though? Because all of the deals are post performance, nothing is lost. Also, because the deals are all based on tax revenue from the companies themselves, nothing is lost from the general tax payers either.

    See, if a company doesn't meet the goals, they don't get the tax credits. Also, if a company doesn't come to the State or expand within the State, they wouldn't get the tax credit offer either.

    As such, there is no need for reporting on these incentives as they cannot exceed 100% of the taxes received by the company. They cannot include the taxes from the employees or sub-contractors, it must be directly from the company and their purchases. Most incentives are less than 25% of estimated tax revenue.

    Tax credits can never result in a company receiving money as part of an over payment of taxes, it just reduces the amount of taxes due. If a company fails to make money and has negative income, the credit is of no use. It is one reason why the terms are generally over a 5 to 7 year average.

    Cities can offer money, land and more but the State just provides post performance credits to save tax payers for a reason.

  • LivinLarge Bountiful, UT
    Oct. 18, 2018 11:00 a.m.

    In case you haven't figured it out yet, solar is NOT the future of energy...far from it based on numerous scientific journals of late.

  • utlosttheirminds North Salt Lake, UT
    Oct. 17, 2018 9:49 p.m.

    Utah's GOED knocks another right out of the park... So much for the 4000 Utah jobs they announced and tossed in up to $25,000,000.00 post-performance tax credit rebates, don't get me wrong I'm glad its performance based but this system of "economic development" isn't working and GOED is not getting a reasonable return for Utah's tax payers. I wish there was a more transparent reporting system to all successes and failures. Once a deal is struck they go quieter than a submarine running on silent and move onto their next "announcement".

  • Impartial7 DRAPER, UT
    Oct. 17, 2018 5:36 p.m.

    Republican tax cuts are impacting the job market and the economy, just like they said they would. Only in the opposite direction.