SpaceX founder Musk says company to spend $100M on rocket launch site at South Texas beach

Industries Associated Press

SpaceX founder Elon Musk says his company expects to spend $100 million in South Texas over the next three to four years on the first commercial orbital spaceport.

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Musk was joined Monday by Gov. Rick Perry and other officials as SpaceX broke ground at the state's southernmost tip.

The ceremony marked the start of construction of the $85 million site at Boca Chica Beach, east of Brownsville, where commercial satellites will be launched.

Perry is providing $2.3 million from the Texas Enterprise Fund toward the project and another $13 million from the Spaceport Trust Fund to pay for infrastructure.

California-based SpaceX is expected to create 300 jobs at the site. The company already has a rocket testing facility in McGregor in Central Texas that employs 250 people.