Possibly next month after Bryan's July 9th vote ... Bryan Ordinance for Reinvestment Zone and Tax AbatementTyHolden said:
any news on this?
"Biggest economic development project since the creation of Texas A&M University"
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Last: 4 mo ago by Hornbeck
Special Board of Regents meeting Wednesday July 3.
https://www.tamus.edu/regents/wp-content/uploads/sites/28/2024/06/AGENDA-July-3-2024-Special-BOR-Meeting-Telephonic.pdf
Quote:
*Item 1 Authorization to Negotiate and Execute a Development Agreement,
Ground Lease, and Other Related Agreements Regarding a Manufacturing
Facility at The Texas A&M University System-RELLIS Campus, in Bryan, Brazos County, Texas, A&M System
https://www.tamus.edu/regents/wp-content/uploads/sites/28/2024/06/AGENDA-July-3-2024-Special-BOR-Meeting-Telephonic.pdf
Trump will fix it.
So, with Sharp retiring next year, does that throw a monkey wrench in this or no?
I think getting this done was one of the last things he wanted to do before retiring.
The Texas A&M Board of Regents has given the green light for officials to start negotiating the terms for a manufacturing facility at the RELLIS campus. https://t.co/jZqlyl4zxv
— KBTX News (@KBTXNews) July 4, 2024
Yup. Still no word on exactly what it is.
"Build where we tell you and you can get preferred tax treatment…oh not you peasant, you pay your taxes or we will take everything you own."
I'm so sick of this crony capitalist leftism.
I'm so sick of this crony capitalist leftism.
Well…you sounded taller on radio.
New: A potential high-tech manufacturing facility worth $10 billion at Texas A&M’s RELLIS Campus in Bryan could bring 1,800 jobs and over $31 million in annual city revenue a decade from now.https://t.co/kB83X1uKtu
— Alex Miller (@AlexMill20) July 3, 2024
The capital plan for Rellis says that side of the campus will be used for companies and the military to do research.
Texas A&M Chancellor John Sharp told the Brazos County Commissioners Court Tuesday that the possible RELLIS high-tech facility could double Bryan’s taxable income. https://t.co/JCd1gVY5aE
— The Eagle (@theeagle) July 9, 2024
Quote:
The mysterious $10 billion high-tech manufacturing facility at Texas A&M University's RELLIS campus which has the potential to double Bryan's taxable income is one step closer to reality after officially receiving a tax abatement agreement from the Brazos County Commissioners Court on Tuesday.
With all four commissioners and the county judge under a non-disclosure agreement (NDA) regarding the possible project's details, the court unanimously passed the 10-year abatement during its regular meeting. The abatement percentage will be 80% for the first five years, dropping to 50% for the remaining five. The guaranteed value of the tax abatement begins at $100 million and increases to $10 billion by year 7. According to the agreement, the facility also will create an estimated 1,800 jobs by year 10.
benchmark said:Texas A&M Chancellor John Sharp told the Brazos County Commissioners Court Tuesday that the possible RELLIS high-tech facility could double Bryan’s taxable income. https://t.co/JCd1gVY5aE
— The Eagle (@theeagle) July 9, 2024Quote:
The mysterious $10 billion high-tech manufacturing facility at Texas A&M University's RELLIS campus which has the potential to double Bryan's taxable income is one step closer to reality after officially receiving a tax abatement agreement from the Brazos County Commissioners Court on Tuesday.
With all four commissioners and the county judge under a non-disclosure agreement (NDA) regarding the possible project's details, the court unanimously passed the 10-year abatement during its regular meeting. The abatement percentage will be 80% for the first five years, dropping to 50% for the remaining five. The guaranteed value of the tax abatement begins at $100 million and increases to $10 billion by year 7. According to the agreement, the facility also will create an estimated 1,800 jobs by year 10.
Meanwhile, let's raise taxes on the average peasa…. Errr, homeowner, while sitting on a huge "rainy day fund".
The County and CoCS operating in lockstep.
The average citizen should look into the last several abatements that "great employers" got, and if they lived up to their end of the bargain.
Hornbeck said:benchmark said:Texas A&M Chancellor John Sharp told the Brazos County Commissioners Court Tuesday that the possible RELLIS high-tech facility could double Bryan’s taxable income. https://t.co/JCd1gVY5aE
— The Eagle (@theeagle) July 9, 2024Quote:
The mysterious $10 billion high-tech manufacturing facility at Texas A&M University's RELLIS campus which has the potential to double Bryan's taxable income is one step closer to reality after officially receiving a tax abatement agreement from the Brazos County Commissioners Court on Tuesday.
With all four commissioners and the county judge under a non-disclosure agreement (NDA) regarding the possible project's details, the court unanimously passed the 10-year abatement during its regular meeting. The abatement percentage will be 80% for the first five years, dropping to 50% for the remaining five. The guaranteed value of the tax abatement begins at $100 million and increases to $10 billion by year 7. According to the agreement, the facility also will create an estimated 1,800 jobs by year 10.
Meanwhile, let's raise taxes on the average peasa…. Errr, homeowner, while sitting on a huge "rainy day fund".
The County and CoCS operating in lockstep.
The average citizen should look into the last several abatements that "great employers" got, and if they lived up to their end of the bargain.
Isn't this a Bryan deal, not CoCS?
Yes but don't let that distract them from their chance to attack CS
Wow, I was unaware that the County Commissioners and the County Judge were giving away CoB's tax money. If that's the case, I'll retract what I said.
CoCS wants to raise taxes by an amount higher than the state allows.
CoCS wants to raise taxes by an amount higher than the state allows.
This whole thing sounds like back in the day when Texas was trying to win the SuperCollider
woodometer said:
This whole thing sounds like back in the day when Texas was trying to win the SuperCollider
We would have gotten if our cold fusion had been a little colder and fusiony.
Eyecatching quote from yesterday's Staff Recomendation
Quote:
To place this in perspective, Brazos Central Appraisal District's current 2024 estimate of net taxable value for the City to be certified on or before July 25, 2024, is $9,906,149,032.
Per kbtx. Its a tech startup - substrate inc
Is anyone else a bit dubious about this? The guy who appears to be heading it doesn't have a track record of accomplishing anything even remotely close to this scale.
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I wonder if the CHIPS act will be providing some funds to help this?
Yes. They had a segment on KBTX last night. It didn't even really sound like this guy was from the semiconductor industry.Quote:
Is anyone else a bit dubious about this? The guy who appears to be heading it doesn't have a track record of accomplishing anything even remotely close to this scale.
$10 billion? For a startup?
I hope this isn't a Theranos situation.
Or cold fusion situation.
I hope this isn't a Theranos situation.
Or cold fusion situation.
If it fails, the execs get paid and everyone else (including the taxpayers) gets hosed.
Here is the KBTX story. Sounds like the guy's experience is starting up a "sleep monitoring" company and some sort of PCB hardware software. That does not sound like a semiconductor background.
Filing records reveal tech company behind major $10 billion RELLIS Campus investment (kbtx.com)
Filing records reveal tech company behind major $10 billion RELLIS Campus investment (kbtx.com)
There's 100s of similar semiconductor startups all over the nation leveraging state and federal funds. Not sure if this has anything to do with Taiwan and its relationship with China but things certainly picked up over the last 4 years.
edit: not intended to make this political. I think the next administration regardless who it is will continue on this path of continuing to support more production in the US. it's like black gold.
Quote:
America's Foundry Bryan LLC plans to leverage several funding sources, including the Texas Semiconductor Innovation Fund, Texas Enterprise Fund, and the federal CHIPS Incentive Program, to support its operations.
edit: not intended to make this political. I think the next administration regardless who it is will continue on this path of continuing to support more production in the US. it's like black gold.
tu ag said:
If it fails, the execs get paid and everyone else (including the taxpayers) gets hosed.
This. Every startup wants to be the next Nvidia. What people don't realize about tech startups is that for every one that becomes an Nvidia, Snowflake, or Tesla, there's a dozen in that space that crash and burn like you so eloquently said.
Hornbeck said:tu ag said:
If it fails, the execs get paid and everyone else (including the taxpayers) gets hosed.
This. Every startup wants to be the next Nvidia. What people don't realize about tech startups is that for every one that becomes an Nvidia, Snowflake, or Tesla, there's a dozen in that space that crash and burn like you so eloquently said.
With the infrastructure they're putting in place, if they crash and burn another major chip company will come in for pennies on the dollar.
This is a major win for this community and economy. Monumental.
All of us hope it doesn't fail, I'm sure we agree on that. The issue is that one little word.
If...
If...
tu ag said:
All of us hope it doesn't fail, I'm sure we agree on that. The issue is that one little word.
If...
There's risk in everything. Given how important semiconductor infrastructure is to our nation's future national security, I think there's a lot of mitigated risk here.
This doesn't feel reckless and a lot of other states were begging for this chance. I'm not afraid of our community taking chances...especially ones with such a significant payoff down the road.
This is a big chance for Bryan to uphold it's part of the BCS when ESPN says "We're in Bryan-College Station in Bucees Stadium at Kyle Field".
Shots fired
Shots fired
I seem to recall a TI facility out off 30 that's now being used for Household Hazardous Waste days, and it's owned by TAMU. I also seem to recall a Westinghouse facility on the bypass that's now a business park that sat empty for 20 years.
To quote a KBTX article - "The old Westinghouse campus was occupied by an electronics company that built radar systems for the air force in College Station between 1983 until 1999. After they closed, the old campus sat empty in the middle of College Station for nearly two decades."
The other two examples of a "monumental" company coming here became "monuments" or tombstones. I get that people are real excited about this, and that all the local politicos are all stirred up, but as a bystander, the track record here is not great. Pump the brakes, folks. It can fail, and we'll have yet another large facility sitting empty.
To quote a KBTX article - "The old Westinghouse campus was occupied by an electronics company that built radar systems for the air force in College Station between 1983 until 1999. After they closed, the old campus sat empty in the middle of College Station for nearly two decades."
The other two examples of a "monumental" company coming here became "monuments" or tombstones. I get that people are real excited about this, and that all the local politicos are all stirred up, but as a bystander, the track record here is not great. Pump the brakes, folks. It can fail, and we'll have yet another large facility sitting empty.
That company name sure is a crowded space. Everything from floor grinders to construction management.
You're sighting an example where a company was very successful in this community for 16 years as a failure and a tombstone?
I'd be upset with the property management of that land for letting it sit mostly vacant for 20 years after. But even then during those years demand/growth in this area wasn't blowing up so there wasn't likely a need to make major moves on that property.
I'd be upset with the property management of that land for letting it sit mostly vacant for 20 years after. But even then during those years demand/growth in this area wasn't blowing up so there wasn't likely a need to make major moves on that property.
You've said that if this fails, some other chip maker will swoop in and buy it for pennies on the dollar. Like it *won't* sit empty for 20 years. The point I'm trying to make is the point I stated above. For every shooting star, there's a dozen turds. Turds that enrich the higher ups, and leave the taxpayers on the hook.
TL;DR - if this thing flames out in under 10 years, that tax abatement will be a boat anchor.
TL;DR - if this thing flames out in under 10 years, that tax abatement will be a boat anchor.