Musk's SpaceX to build $100bn launch site in Louisiana
The project - named Starbase - will be the firm's biggest facility yet and aims to send rockets to space in 2029.
Elon Musk's rocket firm, SpaceX, has revealed plans to construct its most expansive launch facility to date in Louisiana, a southern U.S. state.
The "Starbase" project, valued at $100 billion (£73 billion), is slated to commence construction next year. This 125,000-acre (50,585-hectare) site will extend the company's operational footprint beyond its existing headquarters in Texas and facilities in Florida.
SpaceX stated on Tuesday that the new site will "support thousands of Starship flights a year with missions launching to Earth orbit, the Moon, Mars and beyond."
This announcement follows SpaceX's record-breaking stock market debut in June, when its shares began trading on New York's technology-centric Nasdaq.
The company aims to conduct its inaugural Starship flight from the new base in 2029.
SpaceX anticipates that the Louisiana facility will generate over 3,000 jobs in the area.
According to the Louisiana Economic Development agency, the average salary for employees at the base will be 192% higher than the region's current average wage.