Solar City

Project Name 
Sunshine
Date Announced 
3Q 2015
Site 
Draper, Utah
Competition 
North Carolina, Texas
“We’ve chosen Utah as a regional headquarters because of its educated workforce and affordable cost of living for those in the professional roles we will create in the Beehive State." -- Brendon Merkley, EVP Customer Operations
Jobs 

4,000

Investment 

$15 million

Square Footage 

tbd

Incentives 

SolarCity may earn up to 25 percent of the new state taxes they will pay over the 10-year life of the agreement in the form of a post-performance Economic Development Tax Increment Finance (EDTIF) tax credit rebate. As part of the contract with SolarCity, the GOED Board of Directors approved a post-performance tax credit rebate of $24,441,053.

In addition to the 10 year incentive, if the company generates a minimum of 4,500 jobs and meets additional criteria, SolarCity may earn an extension to the agreement for another five years. This could earn the company an incremental incentive increase of $20,411,880. Each year as SolarCity meets certain criteria, it will earn a portion of the total tax credit incentive. SolarCity may also earn a post-performance Industrial Assistance Fund relocation grant of up to $200,000 as it relocates management personnel.

Related Articles 

SolarCity Opens New Corporate Office in Draper, Utah, SolarCity.com

SolarCity Powers Utah’s Economy With Up To 4,000 Jobs, Utah Governor’s Office

SolarCity Expands in Utah, Renews