As SpaceX IPO launches, Texans near its Starbase HQ are mixed on the company

SpaceX's recent initial public offering has propelled its market value beyond $2 trillion, a landmark achievement that also positions founder Elon Musk as the world's first trillionaire. The company's operations are centered in Starbase, Texas, a location that has transformed a once-quiet coastal area into a bustling hub for rocket development.

Before SpaceX's arrival, the Rio Grande Valley region was primarily known for its wildlife and bird-watching opportunities, with sparse residential communities. Starbase now functions as a company town, drawing a workforce largely composed of transplants from major cities, who are there for the work rather than the natural landscape. This contrasts with nearby Brownsville, a larger city with a predominantly Latino population employed in farming and shrimping.

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Whenever there's a launch or an event going on, we get flooded.

Despite the differences, Starbase and Brownsville share resources, with SpaceX employees residing in and sending their children to schools in Brownsville. SpaceX employs over 4,000 workers at its Starbase facilities, with plans to nearly double this number to 8,000 employees this year. Approximately 70% of the current workforce comes from the local area.

Local businesses have experienced a significant boost. Marco Colorado, owner of El Buen Pescador restaurant, noted a surge in customers during launches and events, describing the SpaceX-related visitors as a "new type of tourism." Similarly, Mikael Hinojosa of Double Day Bar of Champions has seen increased business, with patrons gathering to watch rocket launches. However, Hinojosa also mentioned a downside, with vibrations from launches occasionally disrupting museum exhibits. Environmental groups like Save RGV have voiced criticism regarding the company's impact on the local community and environment.

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It's been positive for the business, but there's a downside to it. In our museum, cannonballs fall over when there's a launch. We don't want to ruin the tourism we already had.