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USA. Elon Musk plans to build his own town of Snailbrook – Wall Street Journal

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Elon Musk plans to build his own town near Austin, Texas, reports the Wall Street Journal. The daily found that entities associated with the billionaire and his enterprises have already bought land for construction, and the town is to be called Snailbrook.

Elon Musk in late 2020, he moved from California to Texas. Less than a year later, Tesla – the company of which he is the CEO – announced the relocation of its headquarters from Palo Alto, California to Austin, Texas. Now the billionaire plans to build his own town in this state, the Wall Street Journal reported on Thursday, citing, among others, land registries and information from officials in Bastrop County, Texas.

According to the daily, entities associated with Elon Musk and his companies have already bought at least 3.5 thousand. acres (approx. 1.4 thousand hectares) of land near the state capital – Austin – and are in the process of creating a new town called Snailbrook. This name is to refer to the mascot – a snail – founded by Musk, The Boring Company, which deals with digging tunnels.

Musk plans his own city

The findings of “WSJ” also show that Musk wants the town to serve the employees of his companies The Boring Company, Tesla and SpaceX, which already have large production facilities near Austin. In Snailbrook, they would “live in new homes with rents below market value”. As part of the township, over 100 new homes are to be built, as well as a swimming pool and outdoor recreation area.

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Elon MuskShutterstock

According to the sources of the newspaper, Elon Musk was already discussing with the authorities of Bastrop County on the issue of including the new town within its borders. This would greatly facilitate construction plans from the administrative and legal point of view. Under Texas law, a town must have at least 201 residents to be eligible for county incorporation. However, a Bastrop County spokeswoman told the WSJ that neither Musk nor any of his entities had so far made an application.

Austin, the capital of TexasShutterstock

SEE ALSO: More problems for Elon Musk. This time with Neuralink implants

Financial aspect

Commenting on the matter, CNN pointed out that tech companies have offered facilities on campus for years to attract new employees and sometimes encourage longer working hours. With his own city, Musk “could go even further.”

There is also the financial aspect. Texas has no personal income tax, while California has one of the highest tax rates in the United States. The billionaire’s relations with California also deteriorated during the first wave of the COVID-19 pandemic, when his temporarily closed Tesla factory in Fremont reopened despite the ban.

SEE ALSO: “Have I been fired?” After an exchange with an employee, Musk now apologizes

Wall Street Journal, CNN, Reuters, tvn24.pl

Main photo source: Michael Gonzalez/Getty Images

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