Cameron County awarded $5 million Spaceport Trust Fund grant
The Cameron County Spaceport Development Corporation was awarded a $5 million grant by the Governor's Office of Economic Development and Tourism on Thursday.
According to a news release from the Office of Gov. Greg Abbott, the Cameron County Spaceport Development Corporation and the Houston Spaceport Development Corporation each received a $5 million Spaceport Trust Fund grant.
Officials say the Spaceport Trust Fund is a financial tool to support the development of infrastructure necessary for establishing a spaceport in the state of Texas.
The 87th Texas Legislature appropriated $10 million during the 2022 fiscal year to provide the Spaceport Trust Fund grants.
"For decades, Texas has been a trailblazer in space technology, and we are proud to help cultivate more innovation and development in this growing industry in Cameron and Harris County," Abbott said in the news release. "This investment in the Cameron County and Houston Spaceport Development Corporations will create even more economic opportunities for Texans across the state and continue our legacy as a leader in space technology."
Spaceport Trust Fund grants are available to any spaceport development corporation that has secured a viable business entity capable of launching and landing a reusable spacecraft and plans to house its facilities in the state.
The grants are awarded through an application process and disbursed on a cost-reimbursement basis.