SpaceX, Elon Musk's rocket company, has announced plans to build its largest launch site to date in Louisiana, a $100bn (£73bn) facility named Starbase. The project marks a significant expansion of the firm's operations beyond its existing Texas headquarters and Florida sites, and comes shortly after SpaceX shares began trading on Nasdaq in June in the world's biggest-ever stock market debut, underlining the company's growing scale and ambition.

Construction of the 125,000-acre (50,585-hectare) site is set to begin next year, with the first Starship launch from the base targeted for 2029. SpaceX said the facility will support thousands of Starship flights annually, serving missions to Earth orbit, the Moon, Mars and beyond. The company expects the project to create more than 3,000 jobs, with the Louisiana Economic Development agency noting that workers there would earn 192% more than the region's current average wage.