Waller County commissioners on Oct. 28 approved transferring an existing property tax agreement to the new owner of the two buildings Tesla uses for battery manufacturing. Vince Yokom, executive director of the Waller County Economic Development Partnership, told commissioners the change assigns the agreement between Tesla, Stream Realty Partners and the county to the new owner. The company is not moving out, according to the report.
The buildings are in Empire West Business Park along Interstate 10 and total about 1.65 million square feet. Tesla leases the space. The sale changes who owns the property and collects rent, not who operates the facilities. Tesla uses the Brookshire facilities to make and distribute Megapacks, large batteries that store electricity.
The project was first announced with plans for more than 1,500 jobs and about $227 million in investment. Under the original agreement, the county offered a 60% reduction in certain property taxes on the buildings for 10 years, as long as the agreement's requirements are met. The buildings were sold after Stream Realty Partners announced the sale in February to BGO, which is buying them on behalf of an investor. The county did not approve an additional tax break or announce new Tesla construction at the Oct. 28 meeting.