by Jon Styf
When Elon Musk’s xAI supercomputer plan was announced in Memphis, there was not a press release from Tennessee’s Department of Economic and Community Development, meaning there is not a state FastTrack grant associated with the project.
No such incentive has been listed on the TNECD database and it isn’t on the agenda for Monday’s State Funding Board meeting. No number has been placed on how much xAI will spend on the project either.
Instead, the supercomputer announcement came from the Memphis Chamber, which said that Chief Economic Development Officer Gwyn Fisher and Vice President of Global Business Development Troy Parkes worked with xAI on bringing the project to Memphis.
The announcement said the Memphis Shelby County Economic Development Growth Engine, Tennessee Valley Authority and other governing authorities must still approve the project.
But xAI reportedly has not and will not apply for tax incentives or a payment in lieu of taxes incentive that was offered to the company, according to the Daily Memphian.
The site of the project is expected to be 3231 Paul R. Lowry Road at the former Electrolux facility.
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Jon Styf is a staff reporter at The Center Square.
Photo “City of Memphis” by City of Memphis.
This is the model everyone should be following. Stop falling over the top of each other to give away money that does not belong to you.
I’m curious….. why would a corporation pass up a chance to mooch off of Tennessee state government? Everybody knows that TNECD is an easy mark…
How will the Economic Development cabal continue to justify giving away millions (billions when it comes to Ford)? xAI has proven that industry can and should pay its own way.