CARSON CITY, Nev. (AP) — The Nevada economic development board has given final approval to tax incentives to bring electric carmaker Faraday Future to Nevada.
The board's unanimous decision Friday was the final step needed to formalize a deal authorized last month by the Nevada Legislature.
Faraday representatives say the company hopes to break ground on its $1 billion North Las Vegas factory by the end of the month, although the exact day depended on contractor availability. The first step in the process was to grade the site.
Car production is expected to begin in the next couple of years.
The incentive package includes $215 million in tax breaks and $120 million in infrastructure improvements at the Apex Industrial Park, where the company will build.