Elon Musk lands tax break for billion-dollar chip plant in Houston area

Kind: captions Language: en New at 4:00, Grimes County giving the green light for a massive semiconductor plant. >> Commissioners approved a new tax zone and major tax break today for one of Elon Musk's projects. It's called Terafab, and the manufacturing plant is planned near the Gibbons Creek Reservoir. The plan calls for a large campus, billions of dollars in investments, and hundreds of jobs. But residents pushed back on the project and tax breaks. It's still not clear how it could impact their property values and the environment. >> This is going to affect the value of our homes by either increase or a decrease. Either will cause a financial burden on us and everyone else. >> Just really worried about you know, what this is going to do for the community, the animals, the rural life. Um you know, what's going to happen to people's property, people who have lived here for generations. >> We'll promote water reuse and conservation efforts. We'll ensure we are compliant with all applicable environmental and pollution control laws, uh with respect to the state of Texas and federally. >> We're getting new details about the project and what this tax break will mean for Grimes County homeowners just ahead at 5:30.