Arrowhead Center at New Mexico State University and NMSU’s Center for Border Economic Development, or C-BED, recently partnered with the New Mexico Spaceport Authority on a report highlighting the Spaceport’s activities and economic impact on the state.
The report, released in late August, provides readers with information on Spaceport America’s activities in 2022, along with the positive impacts it has on New Mexico’s economy.
“Our report found that the Spaceport is an important driver of economic growth in Sierra and Doña Ana counties,” said C-BED Director Chris Erickson. “The ongoing expansion of the space industry provides an opportunity for the Spaceport to play an even more important role going forward.”
The study’s results show Spaceport America supports 549 direct jobs and 811 total jobs in New Mexico, and contributes $138 million to economic output, $60 million to value-added production and $46 million in labor income to New Mexico’s economy.
“Additionally, after meeting with tenants, we found Spaceport America has significant competitive advantages with regards to restricted airspace access, consistent weather and high elevation that draws tenants to New Mexico who would not be here but for Spaceport America. These are important attributes that can support future growth at Spaceport America even with the continued development of competing spaceports,” said Kramer Winingham, director of economic research for Arrowhead Center.
“This has been a long road requiring patience by the citizens and policy-makers of New Mexico,” said Spaceport America Executive Director Scott McLaughlin. “It is also impressive that Virgin Galactic has continued their hard work and operations over the years, and now has gone to space three times this year. 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 isolation, but should view what it does for the entire region, and how it catalyzes building a complete aerospace ecosystem.”
The Spacesport America study is just one example of the research C-BED and Arrowhead Center provides to businesses, nonprofits and governments. Other examples of public studies include the Border Task Force Report: Paso Del Norte Region; Economic Impact of the Las Cruces Innovation and Industrial Park: 2021-2030; State of New Mexico County-Level Revenue & Expenditure Analysis, 2015-2021; and the 2020 Economic Impact of the Santa Teresa Port of Entry and the Santa Teresa Industrial Parks.
Arrowhead Center’s economic research team has a track record of providing impact analyses, feasibility studies, cost-benefit analyses, strategic plans and customized research projects to answer specific economic questions. C-BED team members marshal resources from across NMSU to promote business expansion and economic development in communities along the U.S.-Mexico border.
The New Mexico Spaceport Authority has said it plans to work with Arrowhead Center and C-BED to produce an annual economic impact study. The year-by-year data will yield comprehensive information to better calculate the cumulative impact of the spaceport.
To view other economic impact studies by Arrowhead Center, visit https://arrowheadcenter.nmsu.edu/economic-and-policy-studies/ . To learn more about C-BED, visit https://cbed.nmsu.edu/.
The full article can be seen at https://newsroom.nmsu.edu/news/nmsu-study-delves-into-spaceport-america-s-strong-impact-on-nm-economy/s/a7c99a02-4f24-4a05-996c-65360445f2aa