Unlike most house flippers, the company aims to make money from transaction costs rather than from selling homes for more than their purchase price.
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More than 700 new jobs are coming to the Las Vegas area, ranging from human tissue manufacturing to security monitoring. That wide range of companies is a big win for Nevada, says Steve Hill, with the governor’s office of economic development. (Nicole Raz/Las Vegas Review-Journal)
Faraday Future made out a $16,000 check to the state’s Department of Taxation in July, paying back the only abatements the company received. Approximately $620,000 remains in a trust fund that will begin to be distributed around the state to local tax jurisdictions.
Zach Miles, associate vice president for economic development at UNLV, said the Las Vegas tech scene is largely gaining traction because of growing community infrastructure. The city now has several incubator and business accelerator programs up and running.