Faraday Future Is Coming, Special Session Needed
Governor Brian Sandoval has announced a tentative agreement to bring Chinese-backed electric carmaker Faraday Future's $1 billion plant to North Las Vegas.
Economic development officials and Faraday executives appeared with Governor Sandoval at a press conference Thursday in Las Vegas to share the news.
Nevada lawmakers still need to meet in special session to approve the deal, which involves $335 million in tax incentives and infrastructure improvements around the Apex Industrial Park.
Faraday plans to employ 4,500 people when the plant reaches maturity in 2023. The project is also estimated to create 9,000 indirect jobs and 3,000 construction jobs. The total economic impact is estimated at $85 billion over 20 years.
The proposed incentives are more modest than those approved last year to attract Tesla Motors' battery factory to Northern Nevada.