SpaceX was founded in June 2002 by PayPal co-founder Elon Musk who had invested US$100 million of his own money by March 2006.In January 2005, SpaceX bought a 10% stake in Surrey Satellite Technology Ltd. On August 4, 2008, SpaceX accepted a further US$20 million investment from the Founders Fund. The company has grown rapidly since it was founded in 2002, growing from 160 employees in November 2005 to more than 500 by July 2008, to over 1,100 in 2010. Musk believes the high prices of other space-launch services are driven in part by unnecessary bureaucracy. He has stated that one of his goals is to improve the cost and reliability of access to space, ultimately by a factor of ten. SpaceX became the first private company to successfully launch and return a spacecraft from orbit on December 8, 2010, after its Dragon capsule returned from a two-orbit flight. Space Foundation recognized SpaceX for its successful Dragon launch and recovery with the Space Achievement Award in 2011. SpaceX - Wikipedia, the free encyclopedia "It's a clear sign that NASA will continue to be an engine for growth," said Lori Garver, the agency's deputy administrator, in announcing the deal during a ceremony Oct. 31 at OPF-3. "Together we're going to win the future right here." This deal, expected to produce 550 jobs by 2015, may be the first of several affecting other Kennedy facilities as the center sorts through what it needs for the future and what can be turned over to others. The retirement of the space shuttle fleet earlier this year made a number of facilities available for future use. NASA - Boeing to Build Commercial Spacecraft at Kennedy, Create 550 Jobs As we all know by now the Space Shuttle program has been closed and more than 3000 plus workers have been laid off as a result of this program closing down. In not being far sighted enough to develop a follow-on to the Shuttle NASA not only opened this nation up to having to rely on Russia for its launch capability but also put in jeopardy it's multi billion dollar investment in the International Space Station. Having said this, though, in the past few years the Govt. has gone the direction of promoting competetion to what has boiled down to 2 basic companies Space X and a Joint venture between Boeing and Lockheed. Space X with its Falcon 9 now has 2 launches under its belt and plans to dock with SPace Station soon and will demonstrate its manned system within the next 2 years. Boeing is about a year behind them. In this time of budget cuts, and many pointing fingers of how Govt. needs to get out of the way, this is a prime example of what Govt. can do, to promote not only technology but also promote competetion within the private sector that leads to good high paying jobs and keeping this nation strong. For year's the Govt. has kept the old model of development or single source, leading to over runs, high costs, and no competetion. This model at NASA should be encouraged and repeated throughout the Federal Govt. expecially at DOD and other departments and what we might find is the money we tax payers spend might bring better results.