Lamar Consolidated ISD officials have approved their portion of an agreement for a state economic incentive as Tesla works to finalize its site selection for a new manufacturing facility.
What residents need to know: At a Sept. 15 meeting, the Lamar CISD board of trustees approved a resolution supporting an agreement to move forward with a “taxable value limitation” on eligible property with Tesla, documents show.
The approval is a part of Tesla’s Texas Jobs, Energy, Technology and Innovation, or JETI, Act application, which is a program that attracts companies making significant investments to the state by limiting the company’s school district maintenance and operation tax rate for 10 years.
However, Superintendent Roosevelt Nivens emphasized that the district would not lose tax revenue, as the state commits to making up the funds that Tesla does not pay during the tax limitation through the JETI program.
Stay tuned: Following board approval, the JETI application will need approval from the governor before it can move forward to the agreement phase. Additionally, Tesla will need to finalize its site selection between Fort Bend County and its other potential site.