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You are at:Home - U.S. - New report shows NASA $75.6 billion boost to US economy
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New report shows NASA $75.6 billion boost to US economy

Chicago Vibe MagazineBy Chicago Vibe MagazineOctober 24, 2024No Comments3 Mins Read
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New Report Shows Nasa $75.6 Billion Boost To Us Economy
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NASA's work, including the Moon to Mars exploration approach, is advancing science and technology for the Artemis generation, while also driving significant economic growth across the United States, the agency announced Thursday.

In its third agency-wide economic impact report, NASA highlighted how its activities from the Moon to Mars, climate change research, technology development, and other projects generated more than $75.6 billion in economic output in all 50 states and Washington, D.C., per year. Finance 2023.

“Investing in NASA means investing in American workers, American innovation, the American economy, and American economic competitiveness,” says NASA Administrator Bill Nelson. “Our work not only expands our understanding of the universe – it fuels economic growth, inspires future generations, and improves our quality of life. As we begin the next great chapter of exploration, we are proud to help advance economic strength, job creation, scientific progress, and American leadership on Earth.” And in the sky, and in the stars.

Combined, NASA's missions supported 304,803 jobs nationwide and generated an estimated $9.5 billion in federal, state, and local taxes across the United States.

The study found that NASA's Moon-to-Mars activities generated more than $23.8 billion in total economic output and supported an estimated 96,479 jobs nationwide. For investments in climate research and technology, the agency's activities have generated more than $7.9 billion in total economic output and supported an estimated 32,900 jobs in the United States.

Additional key findings of the study include:

Every state in the country benefits economically through NASA's activities. Forty-five states have an economic impact of more than $10 million. Of those 45 states, eight have an economic impact of $1 billion or more. The agency's Moon to Mars initiative, which includes the Artemis missions, has generated nearly $2.9 billion in tax revenue. These activities provided about 32% of NASA's economic impact. The agency's investments in climate change research and technology have generated more than $1 billion in tax revenue. Approximately 11% of NASA's economic impacts are attributable to its investments in climate change research and technology. NASA had more than 644 active international agreements for various scientific research and technology development activities in fiscal year 2023. The International Space Station, representing 15 countries and five space agencies, plays a dominant role in the agency's international partnerships. In fiscal year 2023, NASA oversaw 2,628 active non-procurement domestic and international partnership agreements, which included 629 new domestic and 109 new international agreements, active partnerships with 587 different non-federal partners across the United States, and partnerships in 47 of the 50 states. NASA Spinoffs, which are common products and processes developed using NASA technology, funding, or expertise, benefit the lives of Americans beyond dollars and jobs. As a result of NASA's missions, FY 2023 technology transfer activities produced 1,564 new technology reports, 40 new patent applications, 69 patents issued, and created 5,277 software user agreements. Scientific research and development, which fuels advances in science and technology that can help improve daily life on Earth and for humanity, is the single largest sector benefiting from NASA's work, accounting for 19% of NASA's total economic impact.

The study was conducted by the Natalie B. Voorhees Center for Neighborhood and Community Improvement at the University of Illinois at Chicago.

To review the full report, visit:

https://go.nasa.gov/3NEtUIq

-end-

Mira Bernstein/Melissa Howell
Headquarters, Washington
202-615-1747 / 202-961-6602
meira.b.bernstein@nasa.gov / melissa.e.howell@nasa.gov

billion boost economy NASA report shows
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