City of SPI proposes official agreement with SpaceX

Special to the PRESS

The South Padre Island Economic Development Corporation (EDC) met Tuesday afternoon for a special meeting to take action on an agreement with SpaceX. Mayor Patel and Councilman Dennis Stahl had called for the meeting and addressed the board on time sensitive matters related to upcoming opportunities.

Councilman Stahl thanked members for their time and moved right on to his presentation regarding the proposed SpaceX Economic Development Agreement by the City of South Padre Island. At the Mayor’s request, he and Councilwoman Julee Lamure began work on the project ca few months ago. The agreement with SpaceX would concentrate on growing sales tax revenue on the Island and could be very beneficial for both parties. Similar agreements are already in place with McAllen, Brownsville, and Harlingen, each with their own priorities.

According to Stahl, the Island has been on a “challenging” trend in regards to sales tax revenue. The tentative deal would require 10% of SpaceX staff to reside on SPI, which is estimated to be 50 persons on the low end and 600 on the high end in three to four years.

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