It’s not oil and gas—not strictly—but it’s a notable development in an O&G capital. Per the Newsletter of the Midland Development Corporation, that organization’s board of directors approved an economic development agreement with AST SpaceMobile on July 20, and the Midland City Council ratified the agreement along with a ground lease for the company’s expanded manufacturing facility at the Midland Spaceport Business Park. The project includes a 400,000+ square-foot satellite manufacturing facility and represents a transformational investment in Midland’s future. At full build-out, the expansion will create 1,800 new jobs with $144 million in annual payroll, generate $150 million in taxable capital investment, and further strengthen Midland’s growing aerospace and advanced manufacturing economy.
The AST SpaceMobile headquarters at the Midland Spaceport Business Park.
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