Starlink, a division of Elon Musk’s rocket company SpaceX that provides satellite internet service across the world, received the second largest grant in a new state fund meant to support the semiconductor business in Texas.

Governor Greg Abbott said he approved the grant to support the Bastrop facility's expansion, which is expected to create over 400 jobs and $280 million in capital investment.

On Wednesday, Gov. Greg Abbott announced SpaceX will get the fifth Texas Semiconductor Innovation Fund (TSIF) grant of $17.3 million. The money is meant to help with the company's expansion of their semiconductor research and development and advanced packaging facility in Bastrop.

The Texas Semiconductor Innovation Fund grant awarded to SpaceX means to boost semiconductor research and development at SpaceX's Bastrop, Texas, location.

SpaceX is making a sizeable investment in its operations near the Texas capital, according to a Wednesday release from Texas Gov. Greg Abbott. Abbott announced the state will be chipping in with a $17.

SpaceX is set to invest more than $280 million in its Bastrop manufacturing facility, and a grant from the new Texas Semiconductor Innovation Fund will help fund the endeavor. Gov. Greg Abbott announced on March 12 that Elon Musk-led SpaceX will get $17.

Gov. Abbott awarded SpaceX a $17.3 million grant for an expansion of their semiconductor research and development (R&D) and an advanced packaging facility in Bastrop.