IOLA, Texas (KXXV) — A multibillion dollar SpaceX project planned for Grimes County is now moving forward following two crucial endorsements from local leaders.
The school boards for the Iola and Anderson-Shiro school districts approved "JETI" tax agreements for the gigantic SpaceX Terafab project, planned at the site of the old Gibbons Creek reservoir.
The facility is expected to create thousands of jobs. It will make semiconductors for artificial intelligence and for Tesla and data centers worldwide.
The school boards approved the agreement Tuesday night.
"JETI" stands for the 2023 Jobs, Energy, Technology and Innovation Act, meant to encourage industrial investment. It limits how much business property taxes can go up, even as it promises tens of millions of dollars for local communities and school districts.
The Anderson-Shiro school board also voted to ask SpaceX for more information for the project to move forward.
Two Grimes County school boards approve crucial tax break for new SpaceX facility
$100 billion-plus project expected to create thousands of new jobs
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