SpaceX has filed a property tax abatement application in Grimes County, Texas, for a semiconductor fab that would cost $55 billion in its initial phases and up to $119 billion if all planned expansions are completed.

The filing, posted on the county government's website ahead of a public hearing scheduled for June 3, describes the project as a "multi-phase, next-generation, vertically integrated semiconductor manufacturing and advanced computing fabrication facility" to be built at the Gibbons Creek Reservoir site, roughly 90 miles northeast of Austin.