With a rich history in human space flight since 1961, Texas has emerged as a major player in the space industry and is well on its way to becoming the world’s leading space destination. Texas even boasts its own Kitty Hawk, where in 1982 the first commercial space launch of Deke Slayton’s Conestoga 1 ascended from Matagorda Island. But there is fierce competition for growth in the space economy which is expected to reach $1 Trillion by 2040. This is why the Texas Space Foundation was created–to unite the stakeholders in space exploration and make the Lone Star State the stepping stone to the stars.
There a three key drivers that position Texas to be the leader in space:
- A booming space industry: Texas is home to some of the biggest names in the space industry, including SpaceX, Blue Origin, and Axiom Space. These companies are investing billions of dollars in the state, creating thousands of jobs and driving innovation in the industry. According to The Perryman Group’s report “Texas Surges Ahead in the New Space Race” from February 2022, the Space Economy in Texas is projected to have a low case impact of $23.6 billion to $27.3 billion in annual gross product and support 175,274 to 202,726 jobs as of 2030.
- Favorable business environment: Texas is known for its business-friendly environment, low taxes, skilled labor and affordable cost of living. This has made it an attractive destination for space companies looking to set up operations. In addition, the state has a strong infrastructure, including major airports, ports, and highways, which makes it easy for companies to transport equipment and materials domestically and internationally.
- Government support: Texas has shown a commitment to the space industry by investing in research and development, as well as offering tax incentives to companies. The state’s Spaceport Trust Fund, which was established in 2013, provides funding for space-related projects, while the pending Texas Space Commission will have over $350M in funding to help attract and grow space businesses to Texas.
Overall, Texas is well-positioned to become the world’s leading space destination. A booming space business will pay dividends to the state for decades to come. These dividends are not only in direct economic value but also in building a science and engineering-centric workforce which is essential in the 21st century.
The Texas Space Foundation is thrilled about this future. And more exciting announcements will be made in the months ahead. As space continues to play an increasingly important role in our lives, Texas is set to lead the way.