“The answer (is) a resounding yes, yes, yes”, he said at a ceremony in Las Vegas.
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“The Governor’s Office of Economic Development and the City of North Las Vegas presented a united front with a business friendly attitude and structured deal terms to level the playing field with the competing locations”, Frei said.
Company officials say they plan to invest $1 billion in the facility that will create 4,500 jobs. Faraday Future’s $1 billion factory wouldn’t qualify. In fact, he’s willing to gamble $1 billion on it.
The realization of the Las Vegas plant will determine when the vehicle will be built and sold.
A sign advertises Mountain View Industrial Park near Apex Industrial Park on Wednesday, Dec. 9, 2015, in North Las Vegas, Nev.
The company previously announced that it was considering sites in California, Georgia and Louisiana but made a decision to build the plant in Las Vegas. The factory can support state economy, but its investment budget does not qualify for tax credits. The plant is expected to have a total economic impact of $85 billion over 20 years and generate $760 million in tax revenue during that period for state and local governments and schools, Hill said.
“Is this good for Nevada?”.
State lawmakers need to meet in a special session to approve the deal.
Faraday Future said on its website the investment in the facility near Las Vegas, Nevada, is a “first phase” for the new company, which is yet to get a vehicle on the road.
California-based automaker Faraday Future’s choice of Nevada over three other states is contingent on state lawmakers’ approval of tax incentives that haven’t been publicly described.
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Six months ago, no one had heard of Faraday, a company backed by tech billionaire Yueting Jia, the Chinese founder and CEO of Leshi Internet & Technology, known as LeTV and widely regarded as China’s answer to Netflix.
