A California economic development board handed out $70.5 million in tax credits on Thursday for private companies promising to create jobs in the state, including $12.7 million for electric car-maker Faraday Future, which broke ground a day earlier on a new manufacturing facility in neighboring Nevada.
In exchange for the credit approved Thursday, Glendale, California-based Faraday Future is promising to create nearly 2,000 jobs in research and development, building and production and software at facilities in Gardena, Rancho Dominguez, San Jose and Redwood City by 2020. It currently has 704 employees, human resources director Crystal Peterson said.
The board of California Competes also awarded dozens of other tax credits, some to businesses that are byproducts of the modern era, others less so. They included:
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