SpaceX to Build World's First Commercial Rocket Launch Facility in Texas

Written on August 05, 2014 at 09:38 AM

Billionaire Elon Musk's space exploration company SpaceX chose the nation's poorest city as the world's first private commercial rocket launch site. SpaceX has already applied for several commercial building permits at Boca Chica, a remote beach in South Texas about 20 miles east of Brownsville. Thanks to Gov. Rick Perry's incentive package totaling more than $15 million, the area is expected to receive $85 million in capital investment and 300 new jobs created.

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Categories: Personal Property, Aerospace & Defense, Real Property, Texas

Colorado Legislature Passes 11 Business Tax-Credit Bills

Written on May 09, 2014 at 07:09 AM

The Colorado Legislature approved 11 bills in 2014 that would grant tax credits or incentives of various sorts to businesses, despite the Capitol avoiding any kind of "tax breaks" for many years. The bills were passed in hopes to boost Colorado's economy, improve the business climate and spur job growth. However, legislative leaders don't expect the trend to last, because this year's tax breaks will take a significant amount of money from the budget and they agree it's not sustainable to keep adding them.

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Categories: Personal Property, Aerospace & Defense, Real Property, Environment, Pollution Control, Sales & Use Tax, Colorado, Green Initiatives

California Gov. Approves Tax Breaks for Space Industry

Written on April 29, 2014 at 10:26 AM

Updated 5/1/14

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Categories: Personal Property, Aerospace & Defense, Real Property, Industrial & Manufacturing, California

Colorado Considering Tax Breaks for Aerospace Properties

Written on February 18, 2014 at 09:30 AM

As the national aerospace industry gets more and more competitive, Colorado lawmakers are considering tax breaks to keep up with other states. In an effort to help aerospace companies stay and grow in Colorado, House Bill 1178 (which cleared the finance committee last week) would give sales-and-use-tax exemptions for spaceflight property with minimal impact on Colorado's tax revenue. HB 1178 was introduced by House Speaker Mark Ferrandino (D-Denver) and House Minority Leader Brian DelGrosso (R-Loveland) because they believe Colorado has become uncompetitive, since several other states already have the tax incentives in place.

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Categories: Aerospace & Defense, Sales & Use Tax, Colorado

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