10 of the World's Most Expensive Megaprojects
From the Top Down: Ending Sexual Harassment in the Construction Industry
Spending Up for the Month, Down for the Year
Friday Funny: "Raising the Roof"
Tracking Technology Helps Construction Companies Save Money, Improve Safety
What The ‘Tech’ Just Happened to Meetings?
Weekly Grind: The Future of Construction Technology Across the Country
Friday Funny: It's Just Ergonomics
By Allison noon, Associated press
July 10, 2017
CARSON CITY, Nev. (AP) — An electric car maker said Monday it is deserting its plan to construct a $1 billion manufacturing plant in southern Nevada eight months after suspending the project and sinking at least $120 million into it.
Faraday Future halted work on the project outside Las Vegas last November, calling the stoppage then a "temporary adjustment" that wouldn't affect plans to begin production in 2018.
Faraday Future Chief Financial Officer Stefan Krause said Monday's decision to scrap the plant was due to a shift in business strategy. The Gardena, California-based company said in a statement that it will now look for an existing facility to produce its electric vehicles in California or Nevada.
The announcement came days after reports that a Shanghai court froze more than $180 million in assets belonging to one of the company's biggest backers, tech billionaire Jia Yueting. The company said that Jia's financial problems were not related to the decision.
Thousands of jobs had been anticipated to come with the construction and launch of the proposed plant on a 900-acre site at the Apex Industrial Park in North Las Vegas.
State Treasurer Dan Schwartz, a critic of the project, blamed state officials for giving false hope that the plant "would magically create 4,500 jobs."
"The promised jobs are yet another mirage in the Southern Nevada desert," Schwartz said.
The state had pledged $335 million in incentives to the company, but had not yet spent any taxpayer money on the project, according to Steve Hill, director of the Governor's Office of Economic Development.
Hill said the company was required to invest at least $1 billion before it received the tax breaks and infrastructure improvements approved by state lawmakers in 2015.
"The state recognized both the opportunity a large manufacturing facility could provide as well as the inherent risk associated with a start-up company attempting this endeavor," Hill said in a Monday statement.
Block Island Wind Farm: Key to Energy Independence
That master strategist Sun Tzu knew a thing or two about out-thinking the competition. Turns out his focus on strategy over strength can be applied to gaining an edge in the construction industry. ... Read More
If you're a construction worker, you're most likely working physical labor and it can get hot if you're working under the sun. Here's a guide for h... Read More
As an architectural statement, the campus is a monument both to Apple’s corporate success and centrality to the global tech culture. At 176 acres, ... Read More
August 8, 2016
"Some of the cool things that we're doing on job sites today are with Rovers and the alive platform. Alive is that software platform that glues to... Read More
The National Association of Women in Construction has a new executive vice president. This change marks a “brand new day and brand new way” for the... Read More
Every construction business owner can learn a lot from competitors. But merely copying them won't do. You will just always stay one step behind. So... Read More
We've selected eight women from all walks of life to ask them one common question: what advice would you give women who want to enter the construct... Read More