Elon Musk, the billionaire CEO of several tech companies, plans to create an entire town called Snailbrook in Bastrop County, Texas, according to a report by the Wall Street Journal.
The site outside Austin covers at least 3,500 acres and possibly up to 6,000 acres. The town will be a live-work community for Musk’s employees, incorporating his regulations and avoiding the bureaucratic restrictions of existing governmental entities.
The town’s name, Snailbrook, is a nod to the mascot of Musk’s tunneling company, Boring Co, and the site is located near Boring and SpaceX facilities. By creating his town, Musk can make decisions quickly and avoid bureaucracy. “I think it’s the ability to work with folks on a direct level and not having tons of red tape,” said Adena Lewis, director of tourism and economic development in Bastrop County.
One of the major benefits of the project is that it will provide lower-than-market-rate housing for employees. Snailbrook already has modular homes, a public pool, a gym, and an outdoor sports area.
In addition, an advertisement for Boring Co. employees last year touted two- to three-bedroom homes for rent starting at $800 a month, compared to the median rent of around $2,200 a month in the area.
Musk moved much of his business operations from California to Texas in recent years due to the lighter regulations in the state. Texas has looser laws regarding labor, the environment, and zoning, in addition to no corporate income tax. By establishing his town, Musk can further control his business environment and potentially attract more company employees.
The creation of Snailbrook is just one example of Musk’s unconventional approach to running his businesses. He has been known to make bold decisions, such as his chaotic takeover of Twitter, which has often raised eyebrows but earned him a reputation as a visionary leader.