Elon Musk’s SpaceX has secured a 100 percent property tax abatement for its planned TeraFab in Grimes County, Texas.
Despite opposition from local residents who fear the chip fab could put a strain on water and power resources and harm local wildlife, local news outlets reported that County commissioners voted 4-1 on June 4 to approve three proposals.
Reuters reported that one local resident said: “They sold out Grimes County,” upon leaving the hearing.
Grimes County, Texas – Google Maps
The proposals that were voted on centered around SpaceX’s infrastructure, job, and investment obligations, the issue of property tax payments, and the creation of a reinvestment zone that would make SpaceX eligible for further tax incentives.
