Tesla Motors Inc (TSLA)’s Elon Musk Picks Texas Site for SpaceX Lauchpad

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Tesla Motors Inc (NASDAQ:TSLA)’s founder and CEO, Elon Musk, has announced that Space X is choosing Texas as their next site for its first commercial launchpad. The state of the art facility will have a vertical launch area and control center to support 12 commercial launches per year, and launch spacecrafts like the Falcon 9, Falcon Heavy and smaller reusable, suborbital launch vehicles.  SpaceX is a space transport Services Company, headquartered in California. Elon Musk announced SpaceX’s plans in a press release from Texas Gov. Rick Perry’s office. Bloomberg reported that Tesla Motors Inc (NASDAQ:TSLA) and SpaceX have big plans for evolving the transportation industry in the US.

SpaceX

Tesla Motors Inc (NASDAQ:TSLA)’s founder’s choice of South Texas for the Launchpad site is going to open many new horizons of development and exposure for the state. The state of Texas also offered a total $15.3 million from the Texas Enterprise Fund and an additional $13 million from the Spaceport Trust Fund to bring SpaceX to Brownsville and the larger Cameron County, according to the press release from Gov. Perry’s office. Statement from Gov. Perry’s office also claimed that this step will create 300 more jobs and will represent an $85 million capital investment in the local economy.

“Texas has been on the forefront of our nation’s space exploration efforts for decades, so it is fitting that SpaceX has chosen our state as they expand the frontiers of commercial space flight,” Gov. Perry said in a statement.

SpaceX successfully docked an unmanned SpaceX Dragon capsule at the International Space Station in March 2013. It also launched its first satellite after two failed attempts in December last year.

Disclosure: None

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