"Every experience, no matter how bad it is, holds within it some kind of blessing. The goal is to find it." -Buddha. Biotech investor & St.Louis Cardinals fan
Elon on Terafab: "Taking into account taxes paid by SpaceX employees and contractors, Terafab will far exceed all revenue that Grimes County currently earns."
Something that perhaps isn’t clear is that, if this location works out (other locations are still in the running), SpaceX will still be paying an annual amount that increases tax revenue for Grimes County by ~25% and will be by far the biggest source of revenue for the county.
Taking into account taxes paid by SpaceX employees and contractors, Terafab will far exceed ALL revenue that Grimes County currently earns!
The reason SpaceX asked for this, which is standard practice for massive capital investments, is because Terafab will have a large number of extremely expensive machines for making chips. Property tax on these crazy money machines would put us at a serious competitive disadvantage relative to other chip fabs in the world.
@vjvuppala@Pharmdca Normally there’s an average let’s say $135-$170 depending on volume/demand. Elon is doing it different. Everyone will get it at the same price regardless of when their “bid” is submitted.