Spaceport America Drives Major Economic Growth Across New Mexico
Facility Generated Nearly $240 Million in Output, Created 790 Jobs in 2024
New Mexico's commercial spaceport Spaceport America has dramatically expanded its economic footprint, generating nearly $240 million in economic output and supporting 790 jobs statewide in 2024, according to a six-year impact study released by New Mexico State University's Arrowhead Center.
"The results are significant, showing that Spaceport America in 2024 supported 313 direct jobs and 790 total jobs in New Mexico."
Dr. Kramer Winingham, NMSU Arrowhead Center
The comprehensive analysis examined Spaceport America's privately funded operations from 2019 to 2024, revealing substantial growth across all economic indicators. Direct employment jumped from 242 jobs in 2019 to 313 jobs in 2024, while total employment nearly doubled from 396 to 790 positions during the same period. Economic output surged from $72 million in 2019 to $239.8 million in 2024.
"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," explained Dr. Kramer Winingham, Arrowhead Center program director and co-author of the report.
The study represents the second economic impact assessment conducted by the New Mexico Spaceport Authority and NMSU's research team. Their previous report, released in August 2023, focused solely on 2022 data. The expanded timeline provides a clearer picture of the facility's cumulative contribution to the state economy.
Scott McLaughlin, executive director of the New Mexico Spaceport Authority, said the numbers demonstrate the facility's growing regional importance. "We are excited to see these numbers and the growing contribution the spaceport is making to the region. 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."
The research team analyzed multiple economic factors, including tenant employment, privately funded construction projects, out-of-state visitor spending, spaceport revenues and tax revenue impact. In 2024 alone, the facility generated an estimated $110.8 million in value-added production and $73.1 million in labor income for the state.
New Mexico Economic Development Department Cabinet Secretary Rob Black emphasized the facility's role in advancing the state's aerospace sector. "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."
The study highlighted Spaceport America's competitive advantages, including restricted airspace access, favorable weather conditions and elevation. These factors attract tenants who would not otherwise locate operations in New Mexico, according to researchers.
"After meeting with tenants, we found Spaceport America has significant competitive advantages with regards to restricted airspace access, weather, and elevation that draws tenants to New Mexico who would not be here but for Spaceport America," Winingham noted. "These are important attributes which can support further growth at Spaceport America even with the continued development of competing spaceports."
The analysis focused exclusively on operations not funded by state resources, examining tenant activities and spending by out-of-state visitors to provide an accurate assessment of the spaceport's economic contribution.
Our Take
This study demonstrates how strategic public infrastructure investment in emerging industries can generate significant economic returns. Spaceport America's growth trajectory suggests that New Mexico's early commitment to commercial space activities is positioning the state as a major player in the expanding space economy.
The facility's success could attract additional aerospace companies and create a cluster effect, further boosting regional economic development. For policymakers nationwide, these results offer evidence that targeted investment in next-generation industries can yield substantial job creation and economic growth, particularly in rural areas seeking economic diversification.