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Starbase Louisiana-tax incentives
Posted on 9/3/26 at 10:08 am
Posted on 9/3/26 at 10:08 am
9
Posted on 9/3/26 at 10:11 am to FOBW
$27 billion in incentives to get a $100 billion facility that will reshape the economy of the 3rd largest metro in the state seems like a great ROI
Posted on 9/3/26 at 10:12 am to FOBW
I'm done with it. We need industry here. This will be a boom. All the other companies that will open to support space colonialism will be had quarter in Louisiana. The first people to walk on Mars may come from a rocket from Louisiana
Posted on 9/3/26 at 10:13 am to stout
Someone should be able to work out how many man hours or income tax us needed at their average pay to equal the benefit.
Posted on 9/3/26 at 10:14 am to stout
So 26 years from now Space X will be paying over $1 Billion per year in property taxes per year. I think this is a good investment in the future of Vermillion Parish.
Posted on 9/3/26 at 10:15 am to Napoleon
The largest incentive is SpaceX not paying property taxes, which they value at neatly $24 billion but as mentioned SpaceX will still pay $25 million yearly to the parish and that can be inflation-adjusted.
Posted on 9/3/26 at 10:17 am to fightin tigers
quote:
Someone should be able to work out how many man hours or income tax us needed at their average pay to equal the benefit.
Or that land could sit there producing nothing and being taxed at the very low agricultural or conservation property tax rates
The $25 million per year Vermillion will now get is way more than they were getting before
Posted on 9/3/26 at 10:18 am to FOBW
quote:
a $100 billion facility in Vermilion Parish, before any exemptions, would generally have a property tax bill of roughly $1.3 billion per year once it’s completed. Under the tax exemption deal, SpaceX’s upfront annual payments come to just 2% of that amount.
The $23.8 billion in foregone property tax revenue for Vermilion Parish is by far the largest single-project tax exemption in Louisiana history and possibly U.S. history, Bagert said.
I'm in general agreement that this could be worth it if all the promises from SpaceX are true.
But my overall pessimism around corporations and government leaves me very cautious.
Posted on 9/3/26 at 10:22 am to stout
quote:
The $25 million per year Vermillion will now get is way more than they were getting before
Assuming their are no other costs incurred by the Parish that is true.
Posted on 9/3/26 at 10:23 am to Salmon
quote:
The remainder will come from the state’s High Impact Jobs grant program, which pays for 22% of each employees’ compensation, and Louisiana Economic Development’s recruiting and workforce training services.
This is the incentive that I disagree with this most.
Tax breaks are one thing. The State literally paying 1/4 of employee salaries is something different that just feels wrong.
This post was edited on 9/3/26 at 10:23 am
Posted on 9/3/26 at 10:24 am to nolaTiger24
That math is nonsensical.
No way in the world the property would be assessed at 100 billion. It’s a slanted article.
I’m in favor of the project, but would like to know all the details. Specifically, who owns the land, who manages the land and the various leases. Hopefully the state now owns the land.
No way in the world the property would be assessed at 100 billion. It’s a slanted article.
I’m in favor of the project, but would like to know all the details. Specifically, who owns the land, who manages the land and the various leases. Hopefully the state now owns the land.
Posted on 9/3/26 at 10:24 am to stout
Idk that I trust our parish to spend it wisely. I guess time will tell .. if our roads and infrastructure don’t get better we’ll know they’re screwing us.
Posted on 9/3/26 at 10:25 am to FOBW
I have no problems shitting on La's crappy business deals (like Buccees sales tax deal) but this one is a fantastic deal for La. I just hope they don't go all Louisianastan and frick it up.
Posted on 9/3/26 at 10:27 am to FOBW
quote:
That math is nonsensical.
Yep
They act like that land was/is valuable to anyone outside of SpaceX
It would still be sitting there producing nothing in 25 years if it weren't for SpaceX, so putting a made-up number on it of $24 billion is clickbait bullshite
Posted on 9/3/26 at 10:27 am to billjamin
quote:
I have no problems shitting on La's crappy business deals (like Buccees sales tax deal) but this one is a fantastic deal for La. I just hope they don't go all Louisianastan and frick it up
In the end I think Louisiana comes out way ahead.
I have no doubt politicians local and state are going to frick over the citizens to make themselves richer.
Posted on 9/3/26 at 10:28 am to tiger91
quote:
Idk that I trust our parish to spend it wisely. I guess time will tell .. if our roads and infrastructure don’t get better we’ll know they’re screwing us.
That's a given
We are still waiting on Calcasieu Parish to spend the casino revenue on schools, as they told us 30 years ago it would be spent
Posted on 9/3/26 at 10:28 am to stout
quote:
$27 billion in incentives to get a $100 billion facility that will reshape the economy of the 3rd largest metro in the state seems like a great ROI
This is for the launch portion of the project, what I haven't seen talked about is what cargo they are launching. People, equipment, fuel, etc. All of that will be built here, made here or stored here and will require people, land and equipment to make it happen.
Posted on 9/3/26 at 10:31 am to FOBW
The land would probably just be sitting there completely unused if SpaceX hadn't bought it, but you have to be a complete idiot to believe some of the promises that Musk is making here. Like his promises that he's going to have 30 space flights a day from the facility?
This post was edited on 9/3/26 at 10:34 am
Posted on 9/3/26 at 10:35 am to UFFan
quote:
Like his promises that he's going to have 30 space flights a day from the facility?
He said it COULD have 30 per day, as in they will build it to have the capability if needed
Posted on 9/3/26 at 10:40 am to stout
I'm pretty sure he used the word "would", but whatever.
It's probably even more telling if he used the word "could". Like that means that he really already knows they won't have anywhere close to 30 space flights a day. And he's trying to create the impression in people's head that he'll have 30 space flights a day, and is also trying to create some wiggle room for when they inevitable don't have 30 space flights a day. Like even if they have 0 space flights a day, he can claim "I just said we might have 30 space flights a day."
It's probably even more telling if he used the word "could". Like that means that he really already knows they won't have anywhere close to 30 space flights a day. And he's trying to create the impression in people's head that he'll have 30 space flights a day, and is also trying to create some wiggle room for when they inevitable don't have 30 space flights a day. Like even if they have 0 space flights a day, he can claim "I just said we might have 30 space flights a day."
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