BREAKING: Elon Musk's Terafab project in Texas is officially moving forward.

SpaceX representatives officially confirmed during a meeting with Grimes County residents and officials in Anderson, Texas, that Terafab is moving forward.

All JETI tax agreements have now been signed by every party, clearing the way for the massive chip factory in Grimes County.

• Civil work will begin almost immediately • Facility renderings could be released within days • Construction could begin within months • Phase 1 will create around 3,000 permanent jobs • Thousands more construction jobs are expected • Jobs will range from food service and security to advanced semiconductor engineering • SpaceX confirmed it owns the Navasota River pumping station • SpaceX says the facility will not increase local electricity bills, deplete local resources or dry up the Navasota River • Grimes County is estimated to receive a total of $710 million over 35 years.