financetom
Business
financetom
/
Business
/
Musk's SpaceX to invest $1.8 billion in Florida for Starship program expansion
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Musk's SpaceX to invest $1.8 billion in Florida for Starship program expansion
Mar 4, 2025 10:30 AM

*

SpaceX is building giant new Starship assembly facility,

launch

pads in Florida

*

State says $1.8 billion SpaceX investment will create 600

future

jobs

*

SpaceX does not yet have regulatory approval for Florida

Starship launches

By Joey Roulette

WASHINGTON, March 4 (Reuters) - SpaceX is planning to

invest at least $1.8 billion to build new Starship launchpads

and processing facilities on Florida's Space Coast, eyeing a key

expansion for the rocket program beyond Texas amid pending

environmental reviews, according to the state's governor.

Elon Musk's SpaceX has been looking to build new Starship

launchpads near its primary launch sites in Florida, as it works

in Texas on early development and testing of the next-generation

rocket designed to loft bigger loads of satellites into space

and put humans on the moon later this decade.

Ahead of SpaceX's eighth attempt to launch Starship from

Texas on Monday, the company announced it is building a 380-foot

tall, 815,000 square foot "Gigabay" facility where it will

assemble future Starship rockets before shipping them to the

launchpad.

The company is eyeing two Florida launchpads for Starship -

one close to its primary launch site at NASA's Kennedy Space

Center, Launch Complex 39A, and another potential site nearby at

the Cape Canaveral Space Force Station, Launch Complex 37. The

39A Starship site is already under construction.

"The project includes at least $1.8 billion of SpaceX

capital investment and will bring an estimated 600 new full-time

jobs in the Space Coast by 2030," Florida Governor Ron DeSantis'

office said in a statement on Monday.

SpaceX has not yet secured regulatory approvals to launch

Starship from Florida.

The U.S. Air Force is leading a review into how Starship

launches in the state would impact the local environment. A

draft report of SpaceX's plans and its environmental impact is

expected to be published in the spring, followed by a regulatory

decision later this year on whether to green-light those plans.

Some tenants of the area's other launch pads, such as the

Boeing-Lockheed joint venture United Launch

Alliance and Jeff Bezos' Blue Origin, have called for more

scrutiny into Starship's Florida plans over concerns an

explosion of the rocket could cause widespread damage.

U.S. officials for years have been trying to study the blast

effects of a rocket so large that uses methane and liquid oxygen

propellants.

Multiple Starship prototypes have exploded on or above

SpaceX's sprawling, privately run facilities in Boca Chica,

Texas, prompting pushback by environmental groups that have had

little success restricting the company's speedy rocket

development.

SpaceX has considered Starship explosions and mishaps

crucial learning opportunities as part of a novel,

capital-intensive test-to-failure development ethos that has

underpinned its speed over rivals in the space industry.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Navitas Semiconductor Insider Sold Shares Worth $4,642,294, According to a Recent SEC Filing
Navitas Semiconductor Insider Sold Shares Worth $4,642,294, According to a Recent SEC Filing
May 30, 2025
03:06 AM EDT, 05/30/2025 (MT Newswires) -- David Moxam, Director, on May 27, 2025, sold 714,199 shares in Navitas Semiconductor ( NVTS ) for $4,642,294. Following the Form 4 filing with the SEC, Moxam has control over a total of 78,649 Class A common shares of the company, with 78,649 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1821769/000162828025028474/xslF345X05/wk-form4_1748570058.xml ...
Nlight Insider Sold Shares Worth $1,149,750, According to a Recent SEC Filing
Nlight Insider Sold Shares Worth $1,149,750, According to a Recent SEC Filing
May 30, 2025
03:09 AM EDT, 05/30/2025 (MT Newswires) -- Scott H Keeney, Director, President and Chief Executive Officer, on May 27, 2025, sold 75,000 shares in Nlight ( LASR ) for $1,149,750. Following the Form 4 filing with the SEC, Keeney has control over a total of 1,342,927 common shares of the company, with 1,342,927 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1124796/000112479625000061/xslF345X05/wk-form4_1748565210.xml ...
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Google agrees $36 million fine for anti-competitive deals with Australia telcos
Aug 17, 2025
SYDNEY, Aug 18 (Reuters) - Google agreed on Monday to pay a A$55 million ($35.8 million) fine in Australia after the consumer watchdog found it had hurt competition by paying the country's two largest telcos to pre-install its search application on Android phones, excluding rival search engines. The fine extends a bumpy period for the Alphabet-owned internet giant in Australia,...
Ares Management Insider Sold Shares Worth $4,845,343, According to a Recent SEC Filing
Ares Management Insider Sold Shares Worth $4,845,343, According to a Recent SEC Filing
May 30, 2025
03:07 AM EDT, 05/30/2025 (MT Newswires) -- David B Kaplan, Director, Co-Founder, on May 27, 2025, sold 29,355 shares in Ares Management ( ARES ) for $4,845,343. Following the Form 4 filing with the SEC, Kaplan has control over a total of 1,058,197 Class A common shares of the company, with 1,058,197 controlled indirectly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1176948/000162828025028468/xslF345X05/wk-form4_1748566759.xml ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved