Elon Musk Says Tesla, SpaceX's Terafab Will Be Grimes County's Largest Revenue Driver As SpaceX Defends Tax Deal

SpaceX and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk on Wednesday said the EV giant’s Terafab chip fabrication facility in Grimes County, Texas, would become the county’s largest source of revenue.
Terafab To Account For 25% Tax Revenue
In a response to influencer Sawyer Merritt, who posted about the Terafab facility getting tax breaks in the form of no property taxes for the facility from the County.



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Musk said that if the location works out, “SpaceX will still be paying an annual amount” to the County that would increase its tax revenue by 25%, adding that the amount would be “the biggest source of revenue for the county.”
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