Nevada plans to offer $335 million in state tax incentives and infrastructure upgrades to an upstart Chinese investor-backed electric carmaker.
The carmaker, Faraday Future, wants to build a $1 billion production plant in a Las Vegas suburb.
Nevada Governor Brian Sandoval on Thursday formally announced a tentative deal with the company and projected the overall economic impact on the local and state economy would be $85 billion over 20 years.
The governor made it clear he plans to convene Nevada lawmakers before Christmas for a short special session to authorize the agreement. Faraday hopes to break ground on a 3 million square foot facility in North Las Vegas in January.
The California-based company has offered few details about its product, but plans to unveil a concept car ahead of the Consumer Electronics Show in Las Vegas in January. It hopes to bring a vehicle to market as early as 2017.
