SpaceX to Get $13 Million, 10-Year Tax Exemption for Texas Spaceport
Artist’s conception of the proposed SpaceX commercial launch facility near Brownsville, Texas.
An update on the incentives package being worked out for SpaceX’s spaceport in Texas:
The Cameron County Commissioners’ Court agreed to waive 10 years of county taxes owed by SpaceX, or Space Exploration Technologies Corp., if the company brings its launch operations to South Texas.
Commissioners also approved a draft of an economic agreement with SpaceX that states the responsibilities of each entity involved, including the Cameron County Spaceport Development Corp.
The Spaceport Board of Directors met Thursday afternoon to discuss the agreement and authorize Board Chairman Nick Serafy Jr. to sign it on behalf of the board.
The Spaceport Board also agreed to accept $13 million from the state’s Spaceport Development Trust Fund.
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