Business & Economy

SpaceX is one step closer to building Mars rockets at LA port

SpaceX says its BFR will be capable of taking people from any city to any other city on Earth in under one hour.
SpaceX says its BFR will be capable of taking people from any city to any other city on Earth in under one hour.
Rendering courtesy SpaceX

Los Angeles harbor commissioners have approved a permit for Space Exploration Technologies to build a facility on 19 acres of port land to manufacture a Mars rocket that will be so big it will require an oceangoing barge for transport to launch sites.

SpaceX founder Elon Musk says the rocket will serve a wide range of missions including going to Mars.

SpaceX founder Elon Musk says the BFR will serve a wide range missions including going to Mars.
SpaceX founder Elon Musk says the BFR will serve a wide range missions including going to Mars.
Rendering courtesy SpaceX

The permit approved Thursday has an initial 10-year term with two 10-year options to extend.

SpaceX will receive credits that offset the approximately $1.38 million in annual rent in exchange for improvements it makes, including construction of a huge hangar-style building. Overall credits are capped at $44 million.

The deal is expected to be reviewed by the City Council.

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