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Policy: Technology

SpaceX gets 10-year tax exemption for Texas site

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News,Business,Science and Technology,Taxes,Texas,Technology

BROWNSVILLE, Texas (AP) — Cameron County commissioners have agreed to waive 10 years of county taxes as part of an agreement bringing the world's first commercial site for orbital rocket launches to the southernmost tip of Texas.

The county's governing board on Thursday also approved a draft of an economic agreement with Space Exploration Technologies Corp., also known as SpaceX.

County Judge Carlos Cascos tells The Brownsville Herald (http://bit.ly/1ohMsso ) that details of the agreement are being withheld until SpaceX signs it. He expects that to happen next week.

SpaceX announced earlier this month it had selected Cameron County for its launch site. It's an $85 million investment that's expected to bring 300 new jobs to the Brownsville area.

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Information from: The Brownsville Herald, http://www.brownsvilleherald.com

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