Tesla has picked the Austin, Texas, area as the site for its largest auto assembly plant employing at least 5,000 workers.
Governor Greg Abbott made the announcement on Wednesday.
"Tesla is one of the most exciting and innovative companies in the world, and we are proud to welcome its team to the State of Texas," said Governor Abbott. "Texas has the best workforce in the nation and we’ve built an economic environment that allows companies like Tesla to innovate and succeed. Tesla’s Gigafactory Texas will keep the Texas economy the strongest in the nation and will create thousands of jobs for hard-working Texans. I look forward to the tremendous benefits that Tesla's investment will bring to Central Texas and to the entire state."
The move will generate over $1 billion in capital investment.
The company will build on a 2,100-acre tract in Travis County and will get more than $60 million in tax breaks from the county and a local school district.
The new factory will build Tesla's upcoming Cybertruck pickup.
It also will be a second U.S. factory for the Model Y small SUV.
The region that's home to the University of Texas at Austin and tech companies such as Dell Inc., was a candidate all along.
But Tulsa, Oklahoma, showed up on the shortlist in mid-May.
Tesla doesn't have a lot of time to get the factory running.
The company says on its website that the Cybertruck will be available starting late next year.
