Wednesday, March 9, 2011

Commercial Rocket Firm Expands In McGregor

A venture backed commercial rocket firm, SpaceX, which is developing rockets to deliver payloads to the International Space Station, said Wednesday that it is planning a major expansion in McGregor, Texas. SpaceX, which is run by ex-PayPal executive Elon Musk, who also heads up high profile electric car firm Tesla Motors, said it is leasing 631 acres on the edge of the City of McGregor, doubling its existing 256 acre site there. The firm said the 10 year lease will allow it to expand its rocket development efforts at the location. SpaceX--which recently conducted a successful test of its Falcon 9 rocket--said it has so far invested $50M in McGregor, and will have at least 140 employees there by the end of the year. The firm has had operations in McGregor since 2003. (Photo: SpaceX).