04. Has commercial space travel had any impact on the US economy so far? (A K2S Question)

From The Space Library

(Norman Mineta) According to The Honorable Norman Y. Mineta, Secretary of Transportation, on February 9, 2006: "I am already readjusting my own list of essential infrastructure for moving the American economy. It still includes highways and railways, pipelines and airports and seaports. And now, I have added spaceports ndash; along with the intermodal connections that will make them an efficient part not just of a global, but of a spatial supply chain. Commercial space has an established history of delivering the goods for the economy. In fact today, we are releasing the latest study on 'The Economic Impact of Commercial Space Transportation on the US Economy'. Our latest figures show that, in 2004, commercial space transportation was responsible for $98 billion in economic activity. The dynamic space transportation industry supported more than half a million jobs—jobs that generated over $25 billion in earnings. And satellite services have cemented their position as the largest industry segment, creating almost 50,000 jobs across the United States economy in the last two years alone. That is a 17 percent growth rate! We want to encourage the new companies that are assuming the business risk. If we let them do their jobs, they will lower the cost of access to space and open up a whole new world of transportation."

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Answer provided by Esther Dyson

Question and Answer extracted from the book Kids to Space - by Lonnie Schorer

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