SpaceX plans $100 billion Louisiana site to become its largest launch facility

SpaceX and Louisiana officials confirmed a $100 billion plan for the company's largest launch facility on the Louisiana coast. The Vermilion Parish campus is designed to support thousands of launches each year. Construction starts in 2027. The first flight is targeted for as soon as 2029. Louisiana projects that the campus will create 3,000 direct jobs over the next 10 years. Average pay is expected to be $92,600. That figure is 192% above the Vermilion Parish average wage. Louisiana Economic Development estimates more than 8,100 indirect jobs across the Acadiana region. SpaceX entered a Payment in Lieu of Taxes agreement with local taxing bodies. SpaceX will pay the parish $25 million each year for 25 years. SpaceX will also make a $20 million upfront payment. State officials expect the arrangement to generate more than $820 million in local payments. Vermilion Parish will become SpaceX's fourth and largest launch site. The completed campus will have five launch complexes. Each complex will have two pads and a propellant farm. SpaceX shares rose about 2.9% Tuesday to close at $137.95. JPMorgan kept a $240 price target on the stock. JPMorgan cited SpaceX's artificial intelligence business rather than its rockets. Louisiana passed laws shielding aerospace records. The laws also make unauthorized entry into a spaceport a felony. SpaceX was cited in 2024 for Clean Water Act violations at its Texas launch site. SpaceX said it has engaged the Louisiana Department of Wildlife and Fisheries. SpaceX also said it has engaged the Coastal Protection and Restoration Authority. SpaceX plans to hold town halls in the surrounding area in the coming months.