LAS VEGAS, Nev. – The governor of Nevada has revealed a tentative agreement to bring a Chinese-backed electric carmaker’s $1 billion plant to a Las Vegas suburb.
Gov. Brian Sandoval made the announcement at a press conference Thursday. Nevada topped Georgia, Louisiana and California in competing for the factory.
State lawmakers would need to meet in special session to approve the deal, which involves $335 million in tax incentives and infrastructure improvements in North Las Vegas.
The proposed incentives are more modest than those approved last year to attract Tesla Motors’ battery factory to Nevada.
Faraday Future plans to employ 4,500 people at the plant when it reaches maturity in 2023. It also is estimated to create thousands of construction jobs.
The total economic impact is estimated at $85 billion over 20 years.