economy
SpaceX Gets a Terafab Tax Break.
Grimes County, Texas, awarded the company a property tax exemption for its planned $55 billion Terafab semiconductor plant. Local residents seem to feel the same way about the project as many do about data centers, and this tax break won’t help. As local landowner Rhonda Nesloney put it in court:
TL;DR
- SpaceX received a property tax exemption from Grimes County, Texas.
- The exemption is for a planned $55 billion Terafab semiconductor plant.
- Local residents are reportedly unhappy with the tax break, similar to sentiments about data centers.
- A local landowner questioned granting tax abatements to a potentially trillionaire owner.