Tesla Seeks Texas Tax Break for USD 10.1 Billion Solar Cell Plant
Tesla has applied for a ten-year property tax limitation in Texas tied to a USD 10.1 billion solar cell manufacturing facility in Fort Bend County, according to application documents posted by the Texas Comptroller and reported by pv magazine.
The application, code-named Project Crystal Sun, describes a 3,050-acre site near Richmond in Fort Bend County, within the jurisdiction of the Lamar Consolidated Independent School District, pv magazine reported.
The capital commitment splits into USD 1.5 billion of real property and USD 8.6 billion of manufacturing equipment and personal property, according to the filing as described by pv magazine.
Staffing projections in the paperwork put permanent employment at 9,712 full-time positions once the plant is fully operational, with peak construction employment of 1,147, pv magazine reported.
Whether the plant lands in Texas is not settled. Tesla stated in the paperwork that it is actively evaluating a competing out-of-state site, and that receipt of local tax incentives is a key factor in final site selection, according to pv magazine.
An economic impact analysis attached to the filing estimates that full buildout could contribute USD 107 billion to Texas gross domestic product and USD 6.4 billion in state and local tax revenue over a 38-year horizon, pv magazine reported.
Consulting firm Kroll prepared the filing, which was signed on July 22 and surfaced publicly in early August, according to pv magazine.
Source: pv-magazine.com (opens in a new tab)1 sourcePermalink