Spaceport America added $138 million to New Mexico’s economy last year, new report says
SPACEPORT AMERICA, New Mexico (KVIA) -- A new report finds that in 2022, Spaceport America supported 548 direct jobs, 811 total New Mexico jobs, and contributed an estimated $138 million to the economy.
The New Mexico Spaceport Authority (NMSA), NMSU's Arrowhead and Border Economic Development (BED) centers conducted the report.
New Mexico taxpayers, especially those who live in Sierra and Dona Ana counties, are paying for the spaceport. As of 2021, Dona Ana County was shouldering 95% of the debt incurred by the building of Spaceport America.
Dona Ana voters approved the tax necessary for the building of the spaceport in 2007. Not including the cost of the new road leading to the facility, the original cost totaled $220 million. By 2021, Dona Ana County had saved $8 million by refinancing the debt.
"It is incumbent upon us to show what impacts and benefits the investment has created, and whether its operations create jobs and business opportunities," Spaceport America Executive Director Scott McLaughlin explained. "This report shows that the investment is paying off, and that the counties and the state are benefiting from this long-term effort.”
McLaughlin added that the spaceport was designed to spur economic development in New Mexico.
In addition to the economic output generated by Spaceport America, the report claims it also created $60 million in value added production and $46 million in labor income for New Mexico.
The report analyzed tenant operations, tenant employment, privately-funded construction, out-of-state visitor spending, revenues, total economic impact, and tax revenue impact.
NMSA hopes to make this report an annual exercise for the Arrowhead Center and BED.
"The year-by-year data will yield comprehensive information to better calculate the cumulative impact of the spaceport," a Spaceport America spokesperson stated in a news release.
"Virgin Galactic has continued their hard work and operations over the years, and now has gone to space three times this year," McLaughlin said. "Their efforts, combined with those of our other tenants and numerous additional customers, are truly making a positive impact for jobs and the economy. Importantly though, we shouldn’t look at the spaceport in insolation, but should view what it does for the entire region, and how it catalyzes building a complete aerospace ecosystem.”
McLaughlin went on to explain that Spaceport American and some of its partners are now referring to the region as Space Valley. He says southern New Mexico offers "so many" aerospace assets, including federal laboratories, universities, aerospace design and manufacturing companies, and a skilled workforce.
"Few parts of the country have all these key assets and can translate this into a culture of innovation and sustainable economic growth," McLaughlin stated.
