New report looks at Spaceport America’s economic impact on New Mexico
LAS CRUCES, New Mexico (KVIA) -- NMSU's Arrowhead Center and the Center for Border Economic Development just published a study on Spaceport America's economic impact on New Mexico from 2019 to 2024. The report estimates that Spaceport America has contributed $110.8 million in value-added production and $73.1 million in labor income in 2024.
“Our impact study of Spaceport America utilized a standard methodology for economic impact analysis and is based on existing operations and activities that took place over a period of six years,” explained Arrowhead Center program director and co-author of the report, Dr. Kramer Winingham. “The results are significant, showing that Spaceport America in 2024 supported 313 direct jobs and 790 total jobs in New Mexico, up from 242 direct jobs and 396 total jobs in 2019, while contributing nearly $240 million to economic output, up from $72 million in 2019."
A similar report came out in 2023. This report builds on those findings. It looks at the spaceport’s tenant employment, privately funded construction, out-of-state visitor spending, spaceport revenues, tax revenue impact, and total economic impact.
“We are excited to see these numbers and the growing contribution the spaceport is making to the region,” said Scott McLaughlin, Executive Director of the NMSA, the state agency that designed, developed, and oversees operations of Spaceport America. “Besides bringing jobs and new money to New Mexico, Spaceport America is also helping Space Valley to grow and get noticed by the national aerospace community.”
Read the full report below:
