The Pinal County Board of Supervisors on Monday approved a lease and purchase agreement with Lucid Group Inc. for more than 1,300 acres around the company’s existing facility, in a 4-1 vote. It also approved a $126 million bond in a 4-1 vote.
The county manager said the lease will bring Lucid's overall site to about 2,000 acres, or the size of an OEM auto manufacturer campus. The county also said this would enable Lucid to produce its full line and have a supplier park.
Citing an economic impact report that was not included in the agenda, the county said Lucid could hire more than 6,000 when the "full vision" is built out. Over 20 years, the county added that the economic output would total an estimated $256 billion, while the tax revenue from Pinal County is expected to total $352 million.