AUSTIN (Austin Business Journal) — Tesla Inc.’s economic impact on the Austin area continues to grow as the electric vehicle maker and its partners ramp up production.
The at-times elusive company that has called Central Texas its headquarters for almost two years — and now stands as one of the region’s largest employers with a staff of more than 20,000 — offered a unique glimpse into the economic activity generated by the company’s presence in Central Texas. The details were shared during an Oct. 17 meeting with the Travis County Commissioners Court when company representatives also updated county officials on its community benefit donations for the year, which are required under its 10-year property tax abatement agreement.
Company representatives shared that Tesla’s gigafactory supported more than $2.1 billion in sales activity within Travis County in 2022, including its own operations and its extended supply chain. On its own, Tesla (Nasdaq: TSLA) generated $1.3 billion in sales activity last year, up from $385 million in 2021, according to a study carried out by a third party that was not identified.
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