STARBASE, Texas — The Starbase Economic Development Corporation may consider issuing up to $3 billion in tax-exempt municipal bonds to support SpaceX facilities in the Boca Chica area, according to records reviewed by the Rio Grande Valley Business Journal.
The reported bond proposal would establish a maximum financing amount for eligible spaceport facilities and could reimburse project costs if approved through the required local processes. The application cited about $6 billion in capital investment and a target of 1,000 full-time jobs with an average annual salary of $85,000.
No final bond issuance has been announced. A proposed maximum does not mean that the full amount will be issued, and any action would require formal consideration by the Starbase Economic Development Corporation and other applicable public entities.
The potential financing is part of the ongoing expansion of SpaceX operations near Boca Chica. BTX Today will update this report as meeting agendas, resolutions or final actions become available.
Source: RGV Business Journal
