Job deadlines set for Tesla solar plant

The Buffalo News is reporting that the state and Tesla have agreed on deadlines for the company to create jobs related to its solar panel manufacturing plant in South Buffalo.

Tesla has two years to create 1,460 jobs in the Buffalo area, including 500 at the factory at Riverbend. Tesla faces fines of up to $41 million a year if it fails to meet the job goals.

The state spent $750 million of taxpayer money to build and equip the facility, the centerpiece of Gov. Andrew Cuomo’s Buffalo Billion initiative. Alain Kaloyeros, a top state economic development official, and Louis Ciminelli, owner of the company that built the plant, were recently convicted of corruption related to the awarding of the development contract.

Investigative Post Editor Jim Heaney discussed the latest developments with Scott Levin of WGRZ.

Since the interview was taped, Tesla released updated financial statements that showed a net loss before taxes of $729 million for the quarter ending June 30. The loss was slightly larger than anticipated by analysts.