Nevada Lawmakers Approve $335M Deal to let Faraday Future in the state

Nevada lawmakers approved four bills to seal a $335 million deal to lure upstart electric carmaker Faraday Future into the state.

According to The Wall Street Journal, the carmaker will bring a billion-dollar factory to Las Vegas suburb. Faraday Futures has yet to introduce a car or a new product to the market. After a four-day session, majority of the state Assembly voted in favor of the deal.

The lawmakers found out that Chinese billionaire Jia Yueting is supporting the California-based company that has former Tesla Motors heads working for them.

"This is a watershed moment," said Democratic state Sen. Pat Spearman. "I will be happy to go back to my constituents and say the darkness that has overshadowed us has lifted."

Star Tribune reported that Republican Governor Brian Sandoval was the one who signed the four bills into law. The bills, which were finalized Saturday, provide #215 million in tax breaks. The bills would also allow $120 million in infrastructure enhancements near the location where Faraday Future plans to put up its factory.

Faraday Futures will bring 4,500 direct jobs to the state, and an additional 9,000 indirect jobs. Sandoval said he is excited about the possibility of young Nevadans working for well-paying jobs at the plant in North Las Vegas.

The Nevadan Governor is proud of the state's casino and mining businesses, but it wants to keep up with the changing world and prepare for the industries of the future.

"We're proud of our mining, we're proud of our gaming, we're proud of all those anchor tenants that we've had in our state," said Sandoval in a report by Reno Gazette Journal. "But the world's changing. And I know that you agree with me that we're not going to let it pass us by."

California, Georgia, and Louisiana also bid for the factory, but it was Nevada that ultimately won the deal.