February 27, 2007

Schwarzenegger administration taking heat for loss of Tesla Moters

Several editorials have appeared around the State criticizing the Schwarzenegger administration for the loss of the Tesla electric sports car company. This is from the San Francisco Chronicle:

PayPal, eBay and Tesla Motors are all Bay Area success stories. Tesla was seriously weighing the possibility of establishing its first factory close at hand in Pittsburg, along the East Bay manufacturing belt. Instead, construction on the $35 million, 150,000-square-foot plant will begin this April in Albuquerque, N.M. The 400 new jobs will pay between $24,000 and $100,000 a year, plus full benefits and stock options… Putting it bluntly, this state should have done better. Gov. Arnold Schwarzenegger actually test-drove a Tesla last November and told the Los Angeles Auto Show, ‘It was hot.’ And why doesn’t the Bay Area have its own regional lobbying office to push Sacramento into being more competitive about retaining companies already here and looking to expand? Meanwhile, at least the 160-employee Tesla headquarters is remaining in San Carlos, where its main function apparently will be to add more venture capital to the $60 million that has already come from Silicon Valley — funding that will now mostly be spent out-of-state.

Filed under Economic Development, Governor Schwarzenegger by

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