Tesla’s proposed lithium refinery in Texas seems to have taken another step forward after a South Texas school district approved an incentives agreement for the project.
During a special meeting, the Robstown Independent School District approved a taxable value limitation for Tesla’s proposed lithium refinery under Chapter 313 of the Texas Tax Code. The vote was unanimous, hinting at the board’s support for the American electric vehicle maker.
Tesla has noted that it may invest about $365 million into the proposed lithium refinery. Thanks to the incentives agreement, the land value for taxes that would be paid to the Robstown Independent School District would be limited to $20 million for the plant’s first 10 years in operation, starting in 2025. According to an Austin Business Journal analysis, this could save Tesla an estimated $16.2 million on property taxes over that period.
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