Batteries will contribute to the gigafactory more than 8 million euros in tax per year In the coffers of the Sagunto City Council In the absence of possible tax breaks for production Task. Sagunto town hall is still uncertain whether it will subsidize the Property Tax (IBI) and Economic Activity Tax (IAE) rates as the multinational auto company claims. German company will invest 4 billion 500 million euros During the construction period and “consecutive years” from 2023 to 2026. Of these, “more than 3,000” corresponds to the initial stage, and the rest, about 1,500 million, to the expansion of facilities.
The management is clear that it is a strategic project that it will own. due to its impact on job creation. 8,900 temporary direct jobs and 10,200 indirect jobs will be created during construction.. By 2026, when the factory is operational, approximately 4,200 direct jobs will be needed, of which 92% will be production staff and 8% will be management and administration. Indirect employment will reach 27,000 and incentivized employment will reach 11,000.
In the absence of discounts on possible bonuses (“for job creation and other investment reasons”), Sagunto City Council through 2027 and 2031 will collect 2,565,304 € Year for Property Tax (IBI) Y 5.842.331 Euro for Economic Activity Tax (IAE). By 2032, the IBI will remain at 2.5 million and the IAE will increase to EUR 9,565,304 (total of EUR 12,130,608).
Alongside municipal taxes, the Regional Strategic Project (PTE), which has accelerated the gigafactory’s administrative proceedings, emphasizes that “with regard to the impact on regional and central treasuries” it can be concluded: direct and indirect effects investment and job creation” will be important especially on VAT, income tax, corporate tax and those related to the projected increase in real estate activity in the region”.
Batteries will contribute to the gigafactory more than 8 million euros in tax per year In the coffers of the Sagunt City Council in the absence of possible tax breaks to create jobs. Sagunt town hall is still uncertain whether the multinational auto company will subsidize the Property Tax (IBI) and Economic Activity Tax (IAE) rates, as it claims. German company will invest 4 billion 500 million euros During the construction period and “consecutive years” from 2023 to 2026. Of these, “more than 3,000” corresponds to the initial stage, and the rest, about 1,500 million, to the expansion of facilities.
The management is clear that it is a strategic project that it will own. due to its impact on job creation. 8,900 temporary direct jobs and 10,200 indirect jobs will be created during construction.. By 2026, when the factory is operational, approximately 4,200 direct jobs will be needed, of which 92% will be production staff and 8% will be management and administration. Indirect employment will reach 27,000 and incentivized employment will reach 11,000.
In the absence of discounts on possible bonuses (“for job creation and other investment reasons”), Sagunt City Council through 2027 and 2031 will collect 2,565,304 € Year for Property Tax (IBI) Y 5.842.331 Euro for Economic Activity Tax (IAE). By 2032, the IBI will remain at 2.5 million and the IAE will increase to EUR 9,565,304 (total of EUR 12,130,608).
Alongside municipal taxes, the Regional Strategic Project (PTE), which has accelerated the gigafactory’s administrative proceedings, emphasizes that “with regard to the impact on regional and central treasuries” it can be concluded: direct and indirect effects investment and job creation” will be important especially on VAT, income tax, corporate tax and those related to the projected increase in real estate activity in the region”.
tax incentives
Volkswagen “requested tax incentives for any license-related tribute, tax and public law income. He also requested urgent administrative action, with all planning, building management, environmental tools, and the expected times of the tools to commission the facility to be halved. The auto group also claims to be exempted from obtaining “municipal building permits.” or any other type of authorization, responsible declaration or (municipal) control act from the City Council, the construction and initial occupation of the gigafabrika battery factory”. With this last condition, The company wants “Generalitat to be responsible for guaranteeing urban control.”
Agility
Consell passed a decree-law in August to accelerate land expropriation for strategic projects for the Community of Valencia, such as the Volkswagen gigafactory. The regulation facilitates land expropriation for photovoltaic plants, as Iberdrola will build to provide 20% green energy to the battery plant.
500 football fields
In addition to Volkswagen’s 4,500 million, Iberdrola will invest another 500 million euros in the self-consumption facility, which will supply 20% of the energy it needs to the gigafactory. The photovoltaic installation will have the power to: 150 megawatts (MW)there will be a little 300,000 plates and – in two areas of the municipal period of the capital of Camp de Morvedre – will occupy an area of ​​​​about 260 hectares; that is equivalent to about 500 football fields.
Source: Informacion

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