According to CoinMeta, Musk's plan to build a chip factory in Graymes County, Texas will create a facility worth $16.8 billion, covering an area of about 100 million square feet, which is larger than any existing building in the world. The factory is expected to create 3,000 jobs in the first phase, with the possibility of additional positions being added in subsequent phases. Musk stated that this facility will be the largest and most valuable building on Earth, integrating logic, memory, and advanced packaging technologies. Texas Governor Greg Abbott said that the investment in the first phase exceeds $16.8 billion and will bring thousands of high-paying jobs to the state of Texas.