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Faraday Future Selects North Las Vegas, Nevada as Site of $1 Billion Production Facility
A rendering of Faraday Future’s design concept for its planned 3 million square foot electric car manufacturing plant in North Las Vegas, Nevada.
Image courtesy of Faraday Future.
GARDENA, Calif.—Faraday Future, an innovative electric vehicle and future mobility startup company, announced in December that it had selected North Las Vegas, Nevada, as the site of a planned $1 billion, U.S. automotive manufacturing plant. Site selection was made after the company had considered several other states—including California, Georgia, and Louisiana—as potential locations for its facility. Faraday Future plans to break ground early this year on a 3 million square foot, state-of-the-art production facility, spread over 9,000 acres of land in North Las Vegas’s Apex Industrial Park, an environmentally conscious development zone.
According to an economic impact study conducted by the State of Nevada, the planned automobile production facility would generate a significant economic impact for the region. Faraday Future plans to invest $1 billion in manufacturing within the first 10 years, an outlay that is expected to invigorate Nevada’s economy and directly create some 4,500 new jobs on site. The company’s operations are also projected to generate thousands of additional jobs within its supplier base and other supporting enterprises, the company says.
The domestic manufacturing project was enabled by a reported $335 million incentive package approved by Nevada’s state legislature. State approval came after a special session convened by Nevada Governor Brian Sandoval to evaluate the specifics of the project, including tax abatements offered by the State.
Real estate services firm Cushman & Wakefield led the site selection and incentives negotiations for the project. The company’s consulting team, in collaboration with Faraday Future, reportedly evaluated more than 100 properties, both brownfield and greenfield, in 10 U.S. states and portions of Mexico. Among the factors weighed were expected human resources costs, labor availability, access to supplier and customer markets, real estate and infrastructure suitability, and incentives.
“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,” said Alexander Frei, head of specialty practice with Cushman & Wakefield’s strategic consulting practice. “An automotive plant is one of the most sought after types of projects for any community, and the city and state should be congratulated for making this a reality for Southern Nevada.”
In a post on its website, Faraday Future said that the benefits of operating in North Las Vegas made it relatively easy to decide to locate its plant there.
“The area offers expansive development space, an enthusiastic workforce, an encouraging tax environment, close proximity to our California headquarters, and nearby access to the thriving tourism capital of Las Vegas, which allows us to offer plant tours and other engaging experiences. Additionally, we’ll be appropriately positioned on the south end of the ‘electric highway,’ a pioneering stretch of U.S. Route 95 between Reno and Las Vegas that is populated with a large network of vehicle charging stations.”
Aiming to produce “100 percent electric vehicles that offer seamless connectivity to the outside world,” Faraday Future expects to bring its first vehicle to market in 2017. The company made a big splash at CES 2016 in January as it unveiled its high-performance concept car, the FFZERO1 Concept, and the proprietary engineering platform on which it’s built. If developed for limited production, the FFZERO1 will have 1000 horsepower and be capable of accelerating from zero to 60 in under three seconds before reaching a top speed of over 200 miles per hour, the company says. For more on Faraday Future, see Technology Merges with Automotive in New Era of Efficient, User-Centric Mobility.
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