Midland approves $66M incentive for larger AST SpaceMobile satellite plant

The Midland Development Corporation and Midland City Council approved a performance-based incentive of up to $66 million over 30 years on July 21 to back a new AST SpaceMobile satellite factory of at least 400,000 square feet - roughly five times the size of its existing Midland plant. At full buildout the project targets about 1,800 jobs, $144 million in annual payroll and up to $150 million in taxable capital investment, with the city projecting $116 million in property-tax revenue; the deal excludes property and sales-tax abatements. AST SpaceMobile shares rose about 12% on the news.