Faraday Future, Snapchat Could Bag Millions in Tax Breaks for Adding Jobs

Gardena electric car startup Faraday Future and Venice’s Snapchat could be in line for millions of dollars in state tax breaks over the next five years if they meet certain hiring and investment benchmarks. According to the Los Angeles Times, Faraday Future would earn $12.7 million in tax credits by adding 2,000 workers by 2020. Snapchat would get $1 million annually if it employs 1,560 workers by the end of the decade.