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I'm sure my home state of Texas would love for SpaceX to increase its investment in jobs and other opportunities in Texas. But I'd be cautious about inferring that such an investment is going to occur simply because of SpaceX's reincorporation in Texas (as announced this week). Musk's decision to switch incorporation for SpaceX from Delaware to Texas is grounded in the Delaware Court of Chancery's decision to nullify Musk's pay package for *Tesla*--but Tesla isn't moving its Delaware incorporation and can't move it without that move's being approved by Tesla shareholders. Will the state-of-incorporation move mean SpaceX will invest in more jobs and facilities in Texas? It's not impossible--Texas has plenty of aerospace talent. But two factors should pre-empt any early rejoicing in Texas about new SpaceX investment. First, SpaceX already homes its testing of launch vehicles, engines, and other systems in McGregor, Texas--and was able to do so even without being incorporated in the state. Second, the state of California, which is where SpaceX designs its launch vehicles and other systems (in the city of Hayworth), *also* has a ton of aerospace talent. California is also home to Vandenberg Air Force Base, one of the launch sites for SpaceX missions. (The company also has a launch site and launch support site at Cape Canaveral and Kennedy Space Center, respectively, in Florida.) Given SpaceX's extraordinary success in the earth-to-orbit marketplace and given its current physical plant, it's by no means clear that reincorporation in Texas (and corporate "departure" from Delaware) will mean more investment in Texas than the company has already planned. If there are SpaceX facilities in Delaware, other than the lawyers who have handled SpaceX incorporation-related functions in Wilmington, they're unmentioned on the company's website.

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