- 1.First Wave of Measure AA Funds Ready for Expenditure
- 2.Getting R.E.A.L. in Sacramento
- 3.Tesla Generated More Than 51,000 Jobs in California in 2017
- 4.Release of the 2018 Leadership Group Candidate Questionnaire
Tesla contributed ‘more than $5 billion’ to California’s economy and supported more than 51,000 jobs last year, report says.
Tesla released a 2017 report to the Silicon Valley Leadership Group and media outlets giving a detailed overview of just how much they’ve contributed to the Bay Area Economy and Silicon Valley. The report released on Tuesday, May 15th, assesses the impact of Tesla’s operations in California and sheds light on their positive influence in our communities.
IHS Markit (IHSM) examined the company’s direct spending on inputs to production and modeled how they filtered through the state economy from the initial Tier-1 Suppliers (the California-based companies that supply parts and services directly to Tesla) through the California supply chain. The modeling also captured how consumer spending activity of Tesla employees induced additional economic contributions within the local economies. IHSM quantified these impacts for the economies of five counties and the City of Fremont.
The findings are reported in terms of Tesla-related employment, wages, stimulated sales activity, value added, and government revenue. To see the highlights of the economic report click here or to see the latest coverage by the Mercury News or the Business Journal click here and here respectively.
* Tesla is a member company of the Silicon Valley Leadership Group