Please follow link to YouTube for Video: Tesla's Progress - January 2015
You can follow along below in case anything was missed. :)
Hello I’m Candy Noel from Reno Sparks Tahoe Homes
I wanted to do a few short quarterly video series on the progress Tesla is making right here at the Tahoe Reno Industrial Park off of interstate 80 in Storey County.
We’re about a 15 minute drive east of Reno/Sparks and about 15 minute drive west of Fernley.
On September 4, 2014, our Governor Brian Sandoval announced Nevada was selected as the final location for the Tesla Giga factory. That was a BIG win for Nevada!! With this news we have had quite a bit of interest in our real estate market.
Today is January 8th 2015 and behind me you can see a bit of the progress Tesla and partner Panasonic has made since their groundbreaking in August. The factory will be roughly a mile long 2 stories high towering at 70 feet tall and will be in a diamond shaped, pointed north to allow for global positioning system alignment of equipment totalling about 10 million sqft. An easier way to visualize this size would be to say about 230 acres or 175 football fields.
A few other facts from the project:
- Tesla received $1.25 billion in incentives and grants from the State of Nevada in the form of tax breaks and perks.
- The projected cost to build the Giga factory is approximately $5 billion
- Nevada Governor Brian Sandoval estimates that Nevada would enjoy $100 billion in economic benefits over the next two decades from the construction of this factory.
- Tesla Gigafactory is stated to be online by 2017, that’s 2 years from now
- By 2020, the Gigafactory is projected to employ approximately 6,500 employees and supply 500,000 Tesla cars per year.
When looking at the real estate market the Reno/Sparks current median home price is about $262,000 this is up about 5% since the announcement and Fernley’s current median home price is closer to $156,000 up approximately 3%.
I hope you enjoyed this quick update of Tesla’s progress and if you have any questions about our real estate market please let us know. We offer all the current MLS Listings and New Home Construction on one site!!