Elon Musk moves SpaceX headquarters to Texas
Elon Musk said he will move the headquarters of social media platform X and rocket company SpaceX from California to Texas.
Elon Musk announced in July that he would move all of his remaining businesses to Texas after a public dispute with California Governor Gavin Newsom. This week, he revealed exactly where his social media company X will land — and it might not be where many expected.
A Forbes report named Bastrop as a destination for Musk’s X. Although Austin was initially considered a likely destination for X due to its influence in the technology sector and its ties to Tesla, Bastrop is a sensible alternative since Musk already has a presence there.
With many of Musk’s companies investing in Texas, here’s what this latest move means and what Musk could build in the state.
Musk is no stranger in Bastrop
SpaceX, Musk’s spacecraft manufacturing company, already has facilities in Bastrop, where Musk is building the Hyperloop Plaza, which he envisions as a work and living community for his employees.
The crown jewel of Musk’s company, Tesla, is headquartered in Austin, which may be why he chose the small city less than 40 miles from the Texas capital as the next location for X.
The presence that Musk already has in Bastrop with his companies could be an early sign that he will continue to be committed to building work and living environments at several locations in Texas.
Musk continues to flock to small towns in Texas
Starbase, a corporate development under construction near Brownsville in South Texas, currently houses a landing pad, launch facility, launch control center and tracking station for SpaceX.
The aerospace company has conducted all of its Starship test launches from Boca Chica, which sits on the coastal Texas-Mexico border. Earlier this year, it announced a $100 million, five-story office building there. Construction on that office has already begun and is expected to be completed by 2025, according to documents from the Texas Department of Licensing and Regulation.
Similar to what Musk wants to achieve with Hyperloop Plaza, Starbase is entirely dedicated to Space-X operations.
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Musk had considered moving to Texas
Public documents filed with the Texas Secretary of State in February showed Musk’s interest in moving SpaceX to Texas, as the California-based aerospace company had requested to move its headquarters to the Lone Star State.
Musk grew increasingly comfortable with the move to Texas after clashing with a Delaware judge over his extraordinary compensation plan with Tesla, which led to the relocation of several companies, including Austin-based Tesla, from Delaware to Texas.
After announcing plans to move SpaceX and X headquarters to Texas, Musk reiterated his dislike of California, saying, “I’m tired of avoiding gangs of violent drug addicts just to get in and out of the building.”
He also claims he warned Newsom against passing laws like the SAFETY Act.
“I made it clear to Governor Newsom about a year ago that laws like this would force families and businesses to leave California to protect their children,” he said.
Why is Texas so desirable for Musk?
It’s no secret that Musk has an affinity for Texas, but from a business perspective, moving to the state has a variety of personal and professional benefits. He seems to favor the state’s politics. His stated reason for leaving California confirms this.
More importantly, Musk is popular in Texas, and tax incentives and less corporate regulation could be attractive. Finally, the fact that all of his major companies are located in the same state could make it easier to do business.
Beck Andrew Salgado reports for the American-Statesman on trending topics in the Austin business ecosystem. For additional tips or insights with Salgado, Email [email protected].
