by Staff Reporter | Feb 24, 2025 | Economy, News
By Staff Reporter |
The Phoenix-based Nikola Corporation filed for bankruptcy this week — Arizona gave millions in incentives and tax credits to the company over the past five years.
Nikola develops electric- and hydrogen-powered vehicles. The company’s bankruptcy comes after years of federal investigations for fraud concerning the company’s innovation and development claims.
In 2019, Nikola received $1.3 million in pre-approved incentives based on projections. That year, projected new jobs were estimated at 400 and the average wage of projected new jobs was estimated at $80,500. The Arizona Commerce Authority (ACA) earned Project of the Year by the Area Development Magazine for bringing on the company.
In 2020, ACA awarded Nikola the highest single pre-approved A-1 incentives grant out of seven awardees for the Arizona Competes Fund Program: $3.5 million. That year, ACA projected Nikola capital investment to be at around $1 billion. Projected new jobs were estimated at over 2,000, with the average wage of projected new jobs at $65,000.
That was the year Nikola had an estimated value of $30 billion.
ACA also gave Nikola a pre-approval for a $7.1 million tax credit. In 2021, ACA then post-approved Nikola for a $6 million tax credit as part of the Qualified Facility Incentive Program. Nikola was one of 19 businesses to receive the award that year.
The company paid $125 million in a settlement to the Securities and Exchange Commission (SEC) that year, though Nikola didn’t claim wrongdoing.
In 2023, ACA pre-approved Nikola for a $3.74 million tax credit as part of the Qualified Facility Incentive Program. Nikola was one of 24 businesses to receive the award that year.
That year, Nikola founder Trevor Milton was convicted of fraud and sentenced to four years in prison for making false and misleading claims to encourage investor demand. Despite resigning from the company in 2020 and the federal investigations into Milton, ACA continued to give millions in financial incentives to Nikola.
The Department of Justice (DOJ) in its announcement of Milton’s sentencing described Nikola’s promise as a mirage:
“Milton made false claims regarding nearly all aspects of Nikola’s business, including: (i) false and misleading statements that the company had early success in creating a ‘fully functioning’ semi-truck prototype known as the ‘Nikola One,’ when MILTON knew the prototype was inoperable; (ii) false and misleading statements that Nikola had engineered and built an electric- and hydrogen-powered pickup truck known as ‘the Badger’ from the ‘ground up’ using Nikola’s parts and technology, when MILTON knew that was not true; (iii) false and misleading statements that Nikola was producing hydrogen and was doing so at a reduced cost, when MILTON knew that in fact no hydrogen was being produced at all by Nikola, at any cost; and (iv) false and misleading claims that reservations made for the future delivery of Nikola’s semi-trucks were binding orders representing billions in revenue, when the vast majority of those orders could be cancelled at any time.”
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by Matthew Holloway | Nov 19, 2024 | News
By Matthew Holloway |
Congressman-elect Abe Hamadeh (R-AZ-8) released a new video via X in which he memorialized his victory against Democrat Greg Whitten in the November General Election.
In the video posted to X, Hamedeh told his supporters, “I’m ready to go to Washington, D.C. to fight. Fight with everything I’ve got for every single one of you here and everybody in this district and all across Arizona. Because despite the many problems we face, I still believe in America, because I believe in all of you. We took on so many powerful people in this race. And it showed us that the American people are stronger than the money that they have. And that’s what this victory is about. It’s a victory about all of you. It’s a victory for ‘We the people.’”
Hamadeh added, “I love you Arizona. I love my country, and I love you. And that’s why I’m with you now and forever. Thank you, Arizona. God bless you. God bless the United States. And let’s keep winning.”
As reported by the Arizona Daily Independent, Hamadeh pledged to “deliver real results, protect our freedoms, and restore America’s greatness.” He added, “This is a victory for every Arizonan who’s fed up with open borders, skyrocketing prices, and a political class that has sold our country out to the highest bidder. Arizona deserves a fighter who will go to Washington, drain the swamp, and actually put America First—and that’s exactly what I’m here to do.”
He remarked that his campaign “was a true grassroots movement fueled by Americans who believe our best days are still ahead.”
“After four years of Joe Biden in the White House and radicals trying to tear this country apart, we need strong, fearless leaders who will fight for the America we know and love. I am honored to be that fighter for Arizona’s 8th District,” Hamadeh said. “This isn’t just about policy; it’s about the courage to fight for the values that have made America the greatest country in the world.”
He told the outlet that his first priorities when he takes office are to deliver on his promises to “secure the border, bring down inflation, protect seniors and stand strong for America’s military and law enforcement.”
In a statement to AZ Free News Hamadeh said, “From day one of my campaign, I made a promise to Arizonans: to bring bold, courageous leadership to the table. As I set out to represent Arizona’s 8th District in Washington, my mission is clear—I will never stop fighting for my constituents, for future generations, and for the revitalization of the United States of America. Together, we will restore the strength and spirit of this great nation.”
In the Sunday post to X, Hamadeh wrote, “Arizona… I am with you, now and forever. Let’s roll.”
In the most up-to-date results from Arizona.vote, Hamadeh handily defeated Whitten by a thirteen-point margin or approximately 47,925 votes. That’s around the combined populations of Sun City West and New River, two of his smaller constituent cities.
Matthew Holloway is a senior reporter for AZ Free News. Follow him on X for his latest stories, or email tips to Matthew@azfreenews.com.
by Daniel Stefanski | Nov 8, 2024 | News
By Daniel Stefanski |
The next President of the United States has seized Arizona’s eleven electoral votes on his way to a landslide victory in the November General Election.
About 24 hours after polls closed in the critical swing state of Arizona, the state was called for President-elect Donald J. Trump after his sizable lead proved to be too great for Democrat Vice President Kamala Harris to overcome. Trump had already reached his requisite 270 Electoral Votes, without needing the states of Arizona or Nevada, to put him over the top for a shocking and resounding victory for the White House.
The Republican Party of Arizona reacted to the news on its X account, posting, “PRESIDENT TRUMP WINS ARIZONA. Thank you Donald Trump for stepping back into the ring. You never gave up on us, and we will never give up on you. Thank you to everyone who helped make this happen. Let the Golden Age begin!”
After Fox News and other outlets declared the 45th and soon-to-be 47th President to be the victor of the whirlwind contest against Harris, Trump took to the stage of his party headquarters and thanked his supporters in attendance and millions around the country and world who tuned into his address. He said, “I want to thank the American people for the extraordinary honor of being elected your 47th president and your 45th president. And every citizen, I will fight for you, for your family and for your future. Every single day, I will be fighting for you with every breath in my body.”
As of this report on Thursday night, President Trump leads his opponent in Arizona by more than 155,000 votes. He narrowly lost the state back in 2020 to current President Joe Biden by fewer than 11,000 votes. In 2016, Trump defeated Hillary Clinton in Arizona by over 91,000 votes. There are still hundreds of thousands of ballots outstanding across the state that will be tabulated in the coming days before the numbers are finalized and certified.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Daniel Stefanski | Oct 13, 2024 | News
By Daniel Stefanski |
As early voting starts across Arizona, Republican and Democrat nominees for President, Vice President – and their surrogates – barnstormed the state to reach voters ahead of the pivotal contest.
Several major events are taking place across Arizona as the November General Election nears.
On Tuesday, Second Gentleman Douglas Emhoff touched down in Arizona to rally voters for his wife, the Democrat nominee for President, Kamala Harris.
During Emhoff’s event, protestors made their views known about the Israel-Hamas War.
U.S. House of Representatives Majority Leader Steve Scalise appeared with the Trump Campaign at a Phoenix rally to increase support for the Republican ticket.
On Wednesday, U.S. Senator J.D. Vance, the Republican Vice-Presidential nominee, stopped by the state, touching base with voters in Mesa and in Tucson.
Minnesota Governor Tim Walz, the Democrat Vice-Presidential nominee, also rallied supporters in Chandler and in Tucson on Wednesday.
Walz and Emhoff joined forces on Wednesday morning at a local cafe.
Harris was in Phoenix Thursday for a highly anticipated event.
The First Lady, Dr. Jill Biden, has announced plans to campaign for the Harris-Walz ticket over the weekend in the state.
Finally, Donald J. Trump, the Republican nominee for President of the United States, has scheduled a rally for Prescott Valley on Sunday.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
by Daniel Stefanski | Oct 12, 2024 | News
By Daniel Stefanski |
Early voting has officially commenced across the crucial swing state of Arizona.
Arizona political parties are encouraging their voters to cast their ballots as early as possible as the pivotal election in November nears.
The Arizona Democratic Party posted, “ARIZONA: Early voting begins today & your mail-in ballot should arrive soon. We have so much at stake this election – from the presidency to flipping our Republican-controlled state legislature. Make a plan to vote…”
The Republican Party of Arizona stated, “Early Voting starts TODAY! Don’t wait – cast your vote early for President Trump and Republicans up and down the ballot. Check the status of your ballot and find a vote center near you at Arizona.Vote! EVERY. VOTE. COUNTS.”
The AZGOP also shared a video clip from a recent speech from Chair Gina Swoboda, where she encouraged listeners to vote by mail to avoid any potential issues at the polling locations.
Last week, the Arizona Libertarian Party alerted its followers on social media that early voting would soon begin.
Arizona Secretary of State Adrian Fontes also promoted the start of early voting in his state, encouraging interested individuals to visit Arizona.Vote “for all your Arizona election needs.”
In the Republican stronghold of Yavapai County, the Recorder there highlighted the beginning of early voting and shared a website for local voters to find locations and time to cast their ballots over the next month.
Additionally, the Pima County Recorder’s Office posted information about early voting in this southern Arizona jurisdiction, including for the 19 early voting sites under its purview.
Daniel Stefanski is a reporter for AZ Free News. You can send him news tips using this link.
