(Bloomberg) -- Rocket Lab USA Inc. plans to build its larger, next-generation Neutron rockets at Wallops Island, Virginia, adjacent to the company's first U.S. launch site.
The project is expected to bring as many as 250 jobs in Virginia, Rocket Lab said in a statement Monday. The commonwealth is contributing $45 million in incentives, including improvements to the launch site and construction support.
The state made “a very attractive offer we couldn't turn down,” Rocket Lab founder and Chief Executive Officer Peter Beck said on a conference call to discuss quarterly results. The company plans to make its first launches from Virginia this year with its smaller Electron rocket.
Read more: Rocket Lab Bets on Carbon Fiber for ‘Beast' Launcher
The Neutron rocket will be 40 meters (131 feet) long and carry a maximum payload of 15,000 kilograms (33,000 pounds) to low-earth orbit. The rocket, for which the company won a $24 million development contract from the U.S. Space Force, is also designed to carry passengers and to handle deep space missions. Flight tests are scheduled to begin in 2024.
Rocket Lab launched its 24th Electron mission from New Zealand Monday. It was the first launch from a new, second pad at the company's Mahia Peninsula launch site.
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