SpaceX Names New Facility 'Starbase, Louisiana', Sets 2027 Construction Start

Key Facts

In a move reflecting the surging ambitions of the commercial space sector, Elon Musk has officially confirmed SpaceX's plans to spend $100 billion building a massive launch facility named 'Starbase, Louisiana'. The company is set to take control of approximately 130,000 acres in Vermilion Parish near Pecan Island as part of a legal settlement with ExxonMobil. Construction is scheduled to begin in 2027, with the site designated to support thousands of annual Starship missions to Earth orbit, the Moon, and Mars.

This $100 billion capital expenditure represents a major strategic shift, repurposing former energy industry land into the world's primary commercial space hub. Per market data, the SPCX instrument closed at $135 on August 24, 2026, after reaching a session high of $138.33. The acquisition of 130,000 acres via the ExxonMobil settlement provides the necessary scale for SpaceX to execute its long-term vision of high-frequency interplanetary launches.

At close on August 24, 2026, SPCX stood at $135, maintaining a technical floor above the day's low of $133.1. As there are no immediate aerospace catalysts in the upcoming economic calendar for the next 7 days, investors should focus on the finalization of the land transfer and the 2027 construction timeline for 'Starbase, Louisiana' as the primary drivers for market sentiment.