BASTROP COUNTY, Texas (Austin Business Journal) — The Wall Street Journal caused a stir earlier this month when it reported that Elon Musk — the billionaire CEO of Tesla, SpaceX, The Boring Co. and other businesses — is planning to create his own town east of Austin. But things don’t appear to be so clear cut.
Citing anonymous sources “familiar with the project,” the WSJ reported March 9 that Musk aimed to create the town in Bastrop County, near burgeoning industrial sites for SpaceX, which builds rockets, and Boring Company, a tunneling startup. In meetings with landowners and real estate agents, Musk and employees of his companies “have described his vision as a sort of Texas utopia along the Colorado River,” according to WSJ.
However, many who live in the area are skeptical of those claims and wonder whether they will ever come to fruition. No Musk company has submitted an application to actually incorporate a city in Bastrop County, Austin Business Journal has learned. Plus, observers wonder why Musk would choose to incorporate when that could subject his plans to additional regulatory hurdles, which he has prioritized avoiding.
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