Louisiana sold 125,000 acres of coastal property in Vermilion Parish to SpaceX for $100 million as part of the company’s planned Starbase Louisiana complex, according to new reporting on the transaction. The price works out to about $800 per acre and adds a major public-land component to a project the company says could ultimately involve $100 billion in investment.
The sale was completed without competitive bidding under authority Louisiana lawmakers expanded in 2025. Act 432, enacted as Senate Bill 161, permits the Louisiana Economic Development secretary, with approval from the commissioner of administration, to lease, sublease or sell state-controlled property for facilities expected to create jobs, payroll or other economic benefits. The law requires commissioner approval and gives the Joint Legislative Committee on the Budget oversight after a transaction has been initiated.
Axios reported that LED says it has used the authority twice: first for roughly 1,440 acres transferred for Meta’s data-center project and now for the SpaceX site. Under Act 432, revenue from qualifying property sales ordinarily goes to the Site Investment and Infrastructure Improvement Fund. Officials told Axios that proceeds from this transaction are going to the Coastal Protection and Restoration Authority following the state’s settlement of long-running coastal litigation involving the former Exxon property.
What SpaceX and the state have promised
Louisiana Economic Development’s official project announcement says SpaceX plans five launch complexes with two pads each, along with propellant production, power generation, vehicle processing and employee housing. Construction is expected to begin in 2027, with the first launch targeted as soon as 2029. The state projects 3,000 direct jobs over 10 years at an average annual salary of $92,600, plus more than 8,100 indirect jobs.
Those figures are projections rather than completed investment or guaranteed employment. The state also says SpaceX is expected to participate in Louisiana’s Aerospace Facilities and Activities Rebate and High Impact Jobs programs and receive customized recruitment assistance through LED FastStart. The announcement does not provide a single combined estimate of all state and local incentives tied to the project.
Regulatory and environmental questions remain
The site is an 18-mile coastal tract at Pecan Island and includes extensive wetlands. Reuters reported that SpaceX intends to leave large portions undeveloped, while the company and state have said they will work with wildlife, fisheries and coastal-restoration agencies to avoid, minimize and mitigate habitat impacts. The project will still depend on engineering progress and regulatory approvals before launches can begin.
The land price alone therefore does not capture the project’s full public cost or potential benefit. For Louisiana residents, the key next steps are disclosure of the complete incentive package, environmental review, permit applications and the promised community meetings. Those records will determine how the $100 million sale, projected jobs and coastal obligations fit together as construction approaches.
