The biggest news around my home this past week: Elon Musk has purchased roughly 130,000 acres of land around Pecan Island on the Louisiana Gulf coast and will invest $100 billion in a satellite launch base, creating 3,000 direct jobs and more than 10,000 indirect ones. Construction starts in 2027, with the first launches expected in 2029.
The site is about as rural as it gets: apart from a handful of simple campers used for weekend boating and fishing, there is hardly anything there - We used to fish in that area a few times, and it is mostly farmland and bayous. Yet the announcement has instantly ignited the surroundings: demand for housing, restaurants and hotels is rising across the board, and local real estate and consumer prospects are being repriced.
For a quiet Gulf coast town, this is a once-in-a-generation opportunity. For anyone looking to get in early, the window is opening: short-term rentals, food and lodging, supporting services and land banking may all share in this wave of upside.
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