Stream Realty declined to comment for the story.
The details
Tesla's move into Brookshire will happen in two phases at the business park, according to agenda documents. Under the agreement, the entities will provide the following items in Phase 2:
- Stream Realty will spend $44 million to improve the manufacturing facility at 111 Empire Blvd. for Tesla with electrical capacity and heating and cooling equipment
- Tesla will spend about $150 million to install manufacturing equipment
For a future Phase 3, located at 103 Empire Blvd.:
- Stream Realty will build a $31.5 million manufacturing facility
- Tesla will install distribution equipment and make building improvements for an estimated cost of $2 million to $5 million
The agreement also states Tesla must hire 1,500 employees by its third year in operation, including:
- At least 375 individuals by the end of the first year
- At least 750 individuals by the end of the second year
- 1,500 employees by the end of the third year and through the abatement period, which ends Dec. 31, 2035
What they’re sayingPrecinct 4 Commissioner Justin Beckendorff said he was pleased to hear the Megafactory project would bring jobs providing a wide pay scale range. He said Tesla expects to offer approximately:
- 1,000 jobs paying over $50,000 annually
- 300 jobs paying over $60,000 annually
- 150 jobs paying over $100,000 annually
- 50 jobs paying close to $150,000 annually
The median household income in Waller County is the second lowest among six Houston-area counties, according to five-year estimates from the U.S. Census Bureau's American Community Survey. It's also lower than the state's median income of $76,292.