As Tesla Motors mulls whether to build a massive battery factory near the Salton Sea, local business leaders say Tesla's asking price — up to $500 million in state incentives — would be well worth paying.
The 10 million-square-foot factory is expected to employ about 6,500 people. It would also boost mineral extraction from geothermal brine from the Salton Sea, an industry that could generate $1.5 billion over 30 years.
The company had originally ruled out California due to the state's high tax burden and cost of living, but the prospect of abundant lithium from the Salton Sea has jettisoned the state back into the running.
Simbol Materials, which is based in Northern California but has a plant in Calipatria, recently developed a potentially game-changing technology to extract lithium from geothermal brine, a leftover of geothermal energy production at the Salton Sea.
If Simbol can scale up its lithium-extraction technology, California's odds of landing the Gigafactory could increase dramatically. A Tesla representative visited Simbol's local plant earlier this year.
