The Bay Area city of Vallejo has been searching for economic stimulus since 1996. That's when the city's navy base closed. Vallejo lost tens of thousands of jobs and eventually went bankrupt during the 2008 financial crisis.
Now Faraday Future
, a new electric car company trying to challenge Tesla, is taking steps to set up a factory in Vallejo. Residents are hopeful, but wary. Faraday is the latest in a line of companies who've shown up promising urban renewal.