NASA Is Generating Far More Economic Growth Than Its Budget
Sounds like we should probably give it more money!
Forget space tourism and commercial spaceflight. NASA wants to remind you that it can still generate mega money for the economy — in addition to providing all the extremely valuable science it does, of course.
According to its latest economic impact report, the cumulative effect of NASA efforts, ranging from lunar missions to technology development, generated over $75.6 billion in US economic output in 2023.
For reference, that's nearly three times NASA's allocated budget for that year, $26.4 billion — a convincing rebuff to critics who argue that the space agency receives too much public money in an era of private space companies.
Per the report's findings, every state in the country saw some of that multi-billion dollar pie, with forty-five of them receiving an economic impact of $1 billion or more. Employment-wise, NASA said that its missions supported nearly 305,000 jobs nationwide, while generating $9.5 billion in federal, state, and local tax revenue. The agency also highlighted its commitment to climate change research, an area it says generated around $1 billion in taxes on its own.
"To invest in NASA is to invest in American workers, American innovation, the American economy, and American economic competitiveness," NASA Administrator Bill Nelson said in a statement. "Our work doesn't just expand our understanding of the universe — it fuels economic growth, inspires future generations, and improves our quality of life."