SpaceX's next-generation Starship successfully launched atop the new Super Heavy V3 booster, from Starbase in Boca Chica, Texas, in July. The company announced it will build a $100 million launch facility in Louisiana. File Photo by SpaceX/UPI | License Photo
Aug. 26 (UPI) -- Elon Musk and SpaceX will build a $100 million launch facility on the coast of Louisiana, the company announced along with the state economic development office.
In a joint statement, the state office said Tuesday that SpaceX will build its Starbase in Vermillion Parish, La., at a property that was formerly owned by Exxon. The facility will "support thousands of launches annually," the press release said.
SpaceX stock rose about 2% to close at $137.95, CNBC reported.
Vermilion Parish will become the company's fourth and largest launch site, "playing a key role in ramping up Starship missions," the release said.
