SpaceX has announced plans to develop a $100 billion rocket launch facility on Louisiana’s southern coast, marking its largest launch site to date. The spaceport will be constructed on 125,000 acres of land in Vermilion Parish, about 200 miles west of New Orleans, on property previously owned by Exxon. Officials say the location offers strategic advantages, including access to ample natural gas supplies and the ability to support a wide range of orbital trajectories.

The project was unveiled at a special event on August 25 attended by Louisiana Governor Jeff Landry and SpaceX President and Chief Operating Officer Gwynne Shotwell. Although SpaceX CEO Elon Musk was not present, he appeared in a promotional video during the presentation. Governor Landry described the agreement as a historic achievement for both the state and the nation, comparing its significance to the Louisiana Purchase of 1803.

This new facility will serve as a key hub for the company’s reusable Starship launch system, supporting a substantial increase in rocket launches aimed at expanding satellite deployment. Louisiana Economic Development noted that the site could accommodate thousands of launches annually. To facilitate the project, state lawmakers have approved significant tax incentives.

Construction is slated to begin in 2027, with the first launch anticipated as early as 2029. The initiative is expected to generate approximately 3,000 jobs over a decade, bolstering the local economy.

Despite the anticipated economic benefits, the project has drawn criticism from environmental groups. Anne Rolfes, director of the Louisiana Bucket Brigade, cautioned that the project could cause irreversible damage to Louisiana’s sensitive coastline. She called for a more deliberate and transparent planning process, emphasizing the need for public hearings and thorough community engagement prior to construction.

In response, Shotwell affirmed SpaceX’s commitment to preserving much of the site’s natural environment, including efforts to reverse land loss caused by erosion. The company plans to conduct restoration and protection activities and has scheduled town hall meetings and other community outreach events to foster local involvement.

The announcement comes after Musk recently took steps to sell SpaceX shares to the public in the company’s largest initial public offering to date. The share price briefly surged to $225, pushing Musk’s net worth to over one trillion dollars.