How $2 Trillion in Public Dollars Can Achieve Racial Equity in Workplaces
- Date: 10-Jul-2020
- Source: Forbes
- Sector:Financial Markets
- Country:Saudi Arabia
How $2 Trillion in Public Dollars Can Achieve Racial Equity in Workplaces
A contractor welds support beams in the paint shop area of the Lucid Motors Inc. manufacturing ... [+] facility while under construction in Casa Grande, Arizona, U.S., on Thursday, May 14, 2020. Lucid Motors, a U.S. startup backed by Saudi Arabia's Public Investment Fund, is building a 720,000 square foot electric vehicle factory and slated to start manufacturing its debut model later this year for delivery in early 2021. Photographer: Caitlin O'Hara/Bloomberg
© 2020 Bloomberg Finance LP
Last month, the electric car company Lucid Motors, also known as Atieva, asked the State of California for an $18 million tax credit to expand its Bay Area headquarters. Although Lucid is a well-capitalized Tesla-rival (with more than one billion from the Saudi Sovereign wealth fund), the company claimed that it needed the tax support to stay in the Golden State, or it would accept a generous rival offer from the State of Arizona.
During a public hearing with the state committee responsible for approving the credit, (on which I serve), I raised the current national reckoning with systemic racism and asked the Lucid representatives what the company plans to do to ensure that the 1,858 new taxpayer-subsidized employees represent the
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