Is Elon Musk the Next Bugsy Siegel?
- S&P says Nevada's Tesla investment will raise wages, taxes
- Nevada is moving away from dependence on gambling, tourism
Drone's Eye View of Tesla's Massive Battery Factory
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Elon Musk’s Tesla Motors Inc’s new battery plant in Nevada may do what mobster Bugsy Siegel did for the state back in the 1940s: Spark a new industry that will help drive the local economy.
Siegel built the Flamingo Hotel and Casino in Las Vegas that helped the desert state’s growth as a center for gambling and entertainment. Now the 6,500 workers Tesla’s new lithium-ion battery plant near Reno are expected to employ will help move the state away from those recession-prone industries, the credit-rating company Standard & Poor’s said in a report. The plant, with an hourly wage of $27, also is expected to increase income in a state where workers earn a little over $20 an hour, S&P said.