EL PASO, Texas (KTSM) — Spaceport America, located about 45 miles north of Truth or Consequences, New Mexico, had an economic impact of $240 million in 2024 and supported more than 300 direct jobs and nearly 800 total jobs.
That is according to a new study from the New Mexico State University Arrowhead Center and the Center for Border Economic Development, or C-BED.
The study looked at the economic impact of the first purpose-built commercial spaceport in the world from 2019 to 2024.
The analysis looked at Spaceport America’s operations not funded by the state and focused on tenant activities and out-of-state visitor spending related to the spaceport.
Here are some key findings:
The total economic impact of Spaceport America was $240 million in 2024, up from $72 million in 2019.
The facility supported 313 direct jobs and 790 total jobs in New Mexico in 2024, up from 242 direct jobs and 396 total jobs in 2019.
The report is the second economic impact study released by the New Mexico Spaceport Authority (NMSA) and the Arrowhead Center/C-BED team.
In August 2023, a similar report was issued focusing on the economic impact for the 2022 calendar year. The most recent version’s year-by-year data has yielded comprehensive information to better understand the spaceport’s cumulative impact, officials said.
“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.”
“New Mexico continues to be a trailblazer in aerospace and space innovation, and having Spaceport America right here in the heart of our state ensures that legacy will only grow,” said New Mexico Economic Development Department (EDD) Secretary Rob Black. “Spaceport’s impact over the last six years reverberates on so many levels, from moving this key industry forward to bringing the state millions in economic impact and hundreds of high-paying jobs.”
The report’s analysis covers the spaceport’s tenant employment, privately funded construction, out-of-state visitor spending, spaceport revenues, tax revenue impact, and total economic impact.
The study also includes a brief introduction, an overview of the industry, and a summation of Spaceport America’s tenant base and other activities.
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