The California government invested millions of dollars into drawing high-paying, high-skilled jobs into the state. Through the California Competes state committee, over $280 million in tax incentives have been improved for companies like developer Riot Games and augmented reality startup Magic Leap in an agreement that they invest in equipment, property and people. Now, the committee is looking for these companies to invest in diversity and inclusion.
While legislation would be needed to mandate diversity and demographic improvements as criteria for the Competes credits, members of the committee are already raising questions to applying companies and looking for adequate answers.
Electric-car startup Faraday Future and Snapchat were both asked about their plans to improve the breadth of opportunities for people with under-represented backgrounds and both laid out detailed plans to do just that, to the satisfaction of the committee. Snapchat’s representative told of the company’s plan to bring in a head of diversity recruitment while also widening their pool of new employees.
Human resource director at Faraday Future, Crystal Peterson explained, “You have to have a plan. You have to commit to [diversity] within the organization and community.”
