Vallejo: The New Detroit?
The city hopes to attract high-tech manufacturing jobs that will boost the local economy, property values and improve the labor market, reports the Napa Valley Register. The development would mark something of a turning point for a city that was in bankruptcy from 2008 to 2011. Faraday is slated to build its second factory on the former US Navy shipyard on northern Mare Island.
The car company competes with Tesla and aims to be a market leader in the new, yet fast-growing electric car market. It previously opened a $1B plant in Las Vegas. [NVR]