. It comes after the Pflugerville City Council approved an economic development performance agreement between the Pflugerville Community Development Corporation Board of Directors and REE Automotive during the city council regular meeting on March 22.
The eight-year agreement, previously approved by the PCDC board on March 16, provides up to $1 million in grants based on REE investing $24.75 million, expanding into the nearly 120,000-square-foot facility, and employing at least 125 full-time jobs throughout the eight-year term. The $24.75 million investment includes the value of the lease agreement over eight years and capital expenditures.
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