SpaceX gets 10 years without taxes, $13 million from state fund - Brownsville Herald: Local News

default avatar
Welcome to the site! Login or Signup below.
Logout|My Dashboard

SpaceX gets 10 years without taxes, $13 million from state fund

Font Size:
Default font size
Larger font size

Posted: Thursday, August 21, 2014 10:16 pm

Cameron County’s incentive package proposal for SpaceX has begun to take shape after officials on Thursday approved agreements concerning the company’s plans to construct a launch pad on Boca Chica Beach.

The Cameron County Commissioners’ Court agreed to waive 10 years of county taxes owed by SpaceX, or Space Exploration Technologies Corp., if the company brings its launch operations to South Texas.

Commissioners also approved a draft of an economic agreement with SpaceX that states the responsibilities of each entity involved, including the Cameron County Spaceport Development Corp.

The Spaceport Board of Directors met Thursday afternoon to discuss the agreement and authorize Board Chairman Nick Serafy Jr. to sign it on behalf of the board.

CountyJudge Carlos H. Cascos said the county’s legal counsel decided that the agreement, which was approved in open session, should not be made public until it is signed by SpaceX.

Cascos said he anticipates that the agreement should be finished and available to the public within the next week.

“Until both parties sign off, we don’t have an agreement,” Cascos said.

The Spaceport Board also agreed to accept $13 million from the state’s Spaceport Development Trust Fund.

A more complete version of this story is available on

  • 85230896

    • icon Updated: 12:02 am
  • 85230858

    • icon Updated: March 27
  • 85229334

    • icon Updated: March 25
More Display Ads

Pet Central


Having a pet is a lot of responsibility, and we’ll help by giving you lots of tips and tricks! More >>



Our fitness articles will help teach you how to work out with gym- and home-based exercises. More >>



Enjoy the crosswords challenge in our free daily puzzles, from the harder Sunday crossword to the quicker daily. More >>



Every Sudoku has a unique solution that can be reached logically. Enter numbers into the blank spaces so that each row, column and 3x3 box contains the numbers 1 to 9. More >>