05/13/2024

Musk's SpaceX is Quick to Build in Texas

However, it is slow to pay its bills

SpaceX is building launch facilities, office buildings and even a shopping center in rural Texas, as billionaire Elon Musk's space venture rapidly expands its rocket and satellite business across the Lone Star state.

But a Reuters review of Texas property records shows that SpaceX and its contractors can be far slower to pay builders and suppliers than they are to break ground. Unpaid bills and finger-pointing among contractors, Reuters found, have led many construction-industry businesses to file liens against SpaceX properties in efforts to get compensated.

The result, several of those businesses told Reuters, is a reluctance to work on SpaceX-related projects again.

Please select this link to read the complete article from Reuters.