Skip to main content
  1. News
  2. Science & Space

California mulls tax breaks to keep commercial space firms from leaving

See also

In a belated move to keep more commercial space business in California, that state is contemplating granting tax breaks to firms such as SpaceX to keep them in the Golden State according to a January 29, 2014 story in Reuters.

“For-profit space explorers who make California their headquarters would not have to pay property taxes on their rockets and space stations under a bill that advanced in the state legislature on Wednesday.

“The move is aimed at stopping an effort by Los Angeles County to collect levies on equipment owned by the privately held SpaceX in Hawthorne, California. It is part of a broader effort by lawmakers to revitalize California's flagging aerospace sector, once among the nation's largest and key to the state's economy.”

The aerospace industry in California has been hit particularly hard by Obama administration defense and NASA cutbacks. Other states, such as Texas and Florida, have been offering generous tax breaks and other enticements for commercial space firms to move and establish infrastructure. XCOR, a company planning to take the well heeled and adventurous on suborbital jaunts, has already started to move to Midland, Texas.

California has been a high tax, high regulatory state for the past couple of decades, the result being an exodus of industry and people from the state. The bill in question seems to be an attempt to keep aerospace from following through a targeted tax incentive.

Advertisement

News

  • Pro-Russians killed
    Putin issues a warning after 3 armed protestors were shot dead in Ukraine
    Video
    Watch Video
  • Korean ferry capsizes
    Only one of 46 life boats were used in the South Korean ferry sinking
    World News
  • Oscar Pistorius trial
    Oscar Pistorius reads a Valentines Day card from his deceased girlfriend without tears
    Crime News
  • Google patent
    Google applies for patent for what could be the successor to Google Glass
    Tech News
  • 420 in Colorado
    Colorado will celebrate 420 for the first time since marijuana became legal
    Headlines
  • Racist Kansas murderer
    Why isn't the Jewish Community Center shooter being labeled as a terrorist?
    Video
    Watch Video

User login

Log in
Sign in with your email and password. Or reset your password.
Write for us
Interested in becoming an Examiner and sharing your experience and passion? We're always looking for quality writers. Find out more about Examiner.com and apply today!