Space industry contributes $1.76 billion to Washington's economic activity

New study to be released in September

The space industry has a strong economic impact throughout the central Puget Sound region and Washington state.

economic impacts chartBusiness activities tied to direct, indirect and induces impacts of the space industry will contribute an estimated $1.76 billion in economic activity to Washington communities in 2018. The estimated 6,200 jobs in the state supported by the space industry will provide an estimated $610 million in payroll. In addition, the space sector contributes about $62 million annually in state and local tax revenues.

The region’s Economic Development Board called for a study of the region’s space sector as an implementation project for the region’s economic strategy, Amazing Place. Information from this study will inform regional leaders about the overall competitive landscape of the industry, and help ensure that Washington remains the world leader in the space industry. The final report will be available in September.

On June 26-28, the region is hosting the NewSpace 2018 conference, the premier forum for space entrepreneurs, investors, innovators, government decision makers, and commercial space companies to convene and to further advance space development.