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Pinal County Mulls Tax to Fund $35 Million Land Deal for Electric-Car Plant

A meeting will be held next month by the Pinal County Board of Supervisors to discuss a tax hike to fund a multimillion-dollar purchase of land to be used by electric-car manufacturer Lucid Motors. 

County officials are not able to confirm that the tract of land is for Lucid Motors but it is the same land that they had previously said would be the future home of the company’s planned $700 million production plant. 

Governor Doug Ducey and Sonora, Mexico’s governor, Claudia Pavlovich made an announcement at the state capitol last month, saying it provides great economic fortune to both Arizona and Mexico.

Lucid Motors is a Chinese-backed company out of Silicon Valley and wants to start construction of the factory next year.  They aim to start producing all-electric sedans by 2018 and by 2022, Arizona officials have said, the plant would mean an increase in jobs in the area.  Parts would be produced by Mexican workers in a location in Sonora.

On top of the Pinal land deal, the company would like to collect as much as $46.5 million in subsidies over the next five years.  They will apply for subsidies offered by the state through the Arizona Commerce Authority.

The funding of the Pinal land deal will be discussed by the County supervisors at a meeting in Florence on January 4.  They would like to see a resolution of intent for the agreement which would then be voted on by January 19. 

Pinal County encourages the public to comment on the issue at the hearing or via e-mail:  [email protected]

A spokeswoman for the Arizona Commerce Authority, Susan Marie, said that while Lucid Motors could potentially receive $46.5 million from the state, the company would not get all of the money at once and they would also have to meet certain goals.

Lucid Motors intends to produce a superior electric car that would be luxurious, quick, and have more miles per charge than other cars out there.  A design that they have unveiled has a projected sticker price of about $160, 000.

 

 


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