Tesla (TSLA) Said to Raise Another $20M for Gigafactory via Tax Credit Transfer

Tesla (NASDAQ: TSLA) is said to have nabbed another $20 million via a sale of certain tax credits.

According to the online publication This Is Reno, the Nevada Governor’s Office of Economic Development (GOED) affirmed that Tesla sold the tax credits to MGM Resorts (NYSE: MGM) for gaming license fees.

Tesla received the credits as part of the deal to build its Gigafactory in Storey County, Nevada. In addition to investing $3.5 billion at the Gigafactory site, Tesla also has to maintain a workforce that is 50 percent Nevada employees.

Shares of Tesla are down over 2 percent Monday.

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