SpaceX sweeteners: How did Louisiana lure Elon Musk’s rocket launch site to its coast?

Sep 1

The $27.5 billion incentive package establishes what’s likely a new high in government subsidies for a single project

By Wesley Muller - Louisiana Illuminator

Louisiana officials offered SpaceX what might be one of the largest single-project tax breaks in U.S. history to cinch a $100 billion deal to build its largest launch facility yet in coastal Vermilion Parish.

State and local governments are giving SpaceX a tax incentive package valued at an estimated $27.5 billion, according to documents obtained in a public records request from Louisiana Economic Development. They outline the state’s negotiations for what’s referred to as “Project Osprey” without using the company’s name or the proposed facility unveiled last week as Starbase Louisiana.

SpaceX, which had a market value as of Friday in excess of $1.8 trillion, is owned by Elon Musk, the world’s richest person with a net worth of $865 billion, according to Forbes.

Michael Wilson

SpaceX sweeteners: How did Louisiana lure Elon Musk’s rocket launch site to its coast?

The $27.5 billion incentive package establishes what’s likely a new high in government subsidies for a single project

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