Elon Musk racks up Billions in incentives

[spuwho]

With California adding yet more tax breaks for Tesla, Elon Musk has racked up 4.9 billion in tax incentives across his 3 companies.

California set to give Tesla another multimillion-dollar tax break

http://c.bizjournals.com/ct/c/93042051/

Tesla is on track to win $15 million in new tax breaks as part of the final round of this year's California Competes tax credit.
The award would join a pile of some $4.9 billion in government incentives that billionaire entrepreneur Elon Musk has racked up through his three companies. Included in that tally is $1.3 billion that Nevada lawmakers approved for Tesla Motors last year in exchange for a 10 million-square-foot lithium-ion battery factory outside Reno.

The $15 million state tax credit would be in return for Tesla (NASDAQ: TSLA) creating about 4,500 jobs across its facilities in Fremont, Hawthorne, Lathrop and Newark, said Brook Taylor, a deputy director of the Governor's Office of Business and Economic Development. The agency administers the California Competes program.
On June 18, a state panel is expected to approve up to nearly $50 million in tax credits to various companies that have committed to investing and creating jobs in California.
The 63 potential awardees range from tech companies to manufacturers of aircraft parts, footwear and medical devices, among other products and trades.
Those companies have agreed to create a combined 11,000 jobs in California, with Tesla contributing about 4,500 to that total.
The allocation represents the third and final round of California Competes for the fiscal year, which, if all 63 companies receive tax breaks this month, will amount to $149.5 million tax credits distributed to 212 companies.

[Non-RedNeck Westsider]

I do this pretty much every time I see a tax-incentive based on employment:

It's extremely unaccurate, but it helps me sleep at night.  (Completely based on assumptions and the immediate filling of all projected positions)

$15M for 4,500 positions = $3,333/employee.  Assuming a 6% state income tax (varies through the state up to 12%), if the average employee makes $55k/year, the money is recouped after 1 year.

This seems a reasonable deal for the state.