For Star subscribers: Pima County is mulling a lease-purchase deal with a Utah-based company expected to pump $3 billion into the Tucson economy over 10 years.
David Wichner A Utah-based lithium battery startup plans to invest more than $1 billion to build a “gigafactory” complex south of Tucson International Airport, projected to eventually employ 1,000 workers, under a proposed lease-purchase agreement with Pima County.
The company says it's looking forward to opening its first factory in Tucson and is eager to share more details, pending the supervisors' vote next week. The company will have the option of buying the land as soon as 30 months after the lease is finalized, at a price of about $21 million for all 267 acres, provided it makes lease payments on time and meets initial construction and employment milestones, the memo says.
While meeting phased construction milestones, the company is expected to employ 600 full-time workers within four years and 1,000 within five years, the memo says. Pima County found itself in legal hot water over its lease-purchase agreement with World View Enterprises, a high-altitude balloon tourism company for which the county build a building and launch pad at the Aerospace Park in 2018.
Negotiations on possible incentives provided by the city of Tucson and the state Commerce Authority are still in progress, the memo says.
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