By TIME Video
August 5, 2014

Texas Governor Rick Perry announced Monday that private space company SpaceX will build the first-ever exclusively commercial launch site near Brownsville, Texas. SpaceX, owned and operated by PayPal billionaire Elon Musk, received a $2.3 million investment from the state to build its site in Texas.

Brownsville has a median income of $30,000, and nearly 40% of Brownsville’s population lives below the poverty line — the highest percentage in the country. Perry said in his announcement that the SpaceX site will bring 300 new jobs and inject $85 million into the local economy.

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