SpaceX has officially moved its state of incorporation from Delaware to Texas.
On Wednesday, the Secretary of State of Texas approved SpaceX’s application to move its state of incorporation to Texas following a Delaware judge’s decision to strike down a $55.8 billion Tesla pay package previously guaranteed to CEO Elon Musk for meeting key growth targets.
“If your company is still incorporated in Delaware, I recommend moving to another state as soon as possible,” Musk said in a post on X.
Musk already has an enormous foothold in Texas due to the state’s pro-business attitude, regulatory environment, and minimal tax burden. Not only has Musk purchased thousands of acres of land in South Texas for use in his SpaceX operations, but he also maintains Tesla’s Gigafactory and lithium refinery outside of Austin.
Due to strong public support in favor of SpaceX’s incorporation in Texas, according to a poll conducted by Musk on X, Musk said he would immediately hold a shareholder vote to determine if Tesla shareholders wanted the same thing.
A recent filing with the Texas Department of Licensing and Regulation shows that Musk plans to build a new 330,000-square-foot office complex near the SpaceX launch site at Boca Chica Beach. The Starbase office complex is scheduled to break ground on February 24 and will be completed around the start of 2025.
“Everything’s bigger in Texas anyways,” quipped Musk on X.
In addition to confirming that Texas was the new home of SpaceX, Musk also shared an animated graphic depicting the Lone Star State with the SpaceX logo in the center.
Gov. Greg Abbott, who has been an avid supporter of Musk’s growing business presence in Texas, took to social media to celebrate the news.
“Here we go. X marks the spot,” Abbott said.
