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00:02SpaceX plans to build a $100 billion launch facility in Vermilion Parish, Louisiana,
00:08that would support thousands of launches annually, according to the Louisiana Economic Development Office.
00:14The site will serve as the main launch facility for Starship, SpaceX's fully reusable rocket under development.
00:21Shares rose about 2% to close at $137.95 after the announcement.
00:27Elon Musk said the project could bring about 10,000 jobs to Louisiana,
00:31while the state estimates 3,000 direct jobs and 8,100 indirect jobs over 10 years.
00:38SpaceX said the facility will also include coastal restoration efforts around nearby wetlands.
00:44Louisiana, earlier this year, approved laws providing financial incentives
00:48and easing public review requirements for some aerospace projects.
00:51The Louisiana facility will become SpaceX's fourth launch site.
00:55For all things money, visit Benzinga.com.
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