Semi old news here but wanted to get it on the thread. The headlines are always frustrating as the total economic impact of a new 5M sq ft high-complexity manufacturing facility and all associated supply chain synergies would far exceed the tax abatements over a decade. Still in the works but could be huge if they get it done.
Business
Tesla could get more than $60M in tax breaks to choose Travis County site
https://www.statesman.com/business/2...is-county-site
By Lori Hawkins
Posted Jun 18, 2020 at 8:19 AM
In a bid to help lure Tesla to Central Texas, the Del Valle school district southeast of Austin is considering an incentives deal that could save the electric automaker up to $68 million on its property tax bill over 10 years if it brings a major assembly plant — and thousands of jobs — to Travis County.
The proposed agreement — which was made public by the Texas comptroller’s office Thursday — calls for Tesla to build a 4-million- to 5-million-square-foot facility that would eventually employ 5,000 or more workers on a site just off Texas 130 in southeastern Travis County. If the Del Valle school board approves the agreement and Tesla moves forward with the factory there, construction could start in the third quarter of this year and take two to three years to complete, according to documents filed with the Texas Comptroller’s Office.
The Travis County commissioners are also considering a separate incentives agreement with Tesla, but the terms have not been made public. It has not yet been approved by the Commissioners Court. Gov. Greg Abbott’s office has not said whether the state is also considering offering incentive money from the Texas Enterprise Fund.
If the incentives deals are approved and Tesla accepts them to bring its assembly plant to Travis County, it would be one of the most significant economic development deals in Central Texas history.
Richard Suttle Jr., who is working as Tesla’s attorney and lobbyist in Austin, said Tesla choosing the Central Texas site would be “a game-changer” for the local economy.