OPINION: New Mexico's Spaceport is key to continued economic growth and diversification

New Mexico has long led the way with bold, innovative policies that are often decades ahead of their time and keep our state on the cutting edge — from our first-in-the-nation, fully-funded constitutional right to early childhood education and nation-leading protections at the ballot box, to our entrepreneurial approach to growing our state’s economy.

Our early investment in the commercial space industry is another example of how this unique entrepreneurial economic vision shines. The Spaceport Development Act, passed by the Legislature in 2005, created a statutory framework to empower New Mexico to blaze the trail in this burgeoning new industry, while also making key investments in the necessary infrastructure and workforce training to support it. This work ultimately supported the building of a world-renowned, purpose-built facility in Spaceport America.

Embarking on a new path is not always easy. Space tourism is not a longstanding industry or one the average person interacts with on a daily basis. So, some New Mexicans may not be aware of all the economic progress and potential at the Spaceport. An announcement that Virgin Galactic, one of the facility’s largest and best-known tenants, will temporarily pause its commercial flights to invest in upgraded rocket ships that can fly much more frequently, has caused understandable confusion and even frustration.

But talk of selling the facility is not only short-sighted, it also overlooks the contributions the Spaceport has already made to our state’s economy. A recent report from New Mexico State University’s Arrowhead Center and the Center for Border Economic Development shows that the Spaceport sustains over 300 direct jobs, supports nearly 800 total jobs and contributed nearly $240 million to New Mexico’s economy last year.

The facility’s success does not hinge on one tenant. Regardless of whether Virgin Galactic is ultimately able to increase its commercial flights in New Mexico from once a month to twice a week, Spaceport America is currently home to six other innovative space technology companies that offer exciting opportunities for aerospace development. This, in turn, supports good jobs and economic growth in the state.

Further, the commercial space sector is one of the fastest-growing industries in the United States. From innovations in telecommunications and renewable energy, to developments in the biosciences and national defense, the space industry is on the forefront of technological evolution on a global scale.

That’s why numerous states, including Texas, Nebraska, South Dakota and Florida, have followed our lead and begun heavily investing in space infrastructure, though they are still years behind the foundation we have already established here in New Mexico.

The commercial space industry will continue to grow at a rapid, forward trajectory, presenting economic opportunities New Mexico can’t afford to ignore. Rather than listening to naysayers who want to dismantle the foundation we’ve set in our state, we should be proud of our visionary work and investments and embrace New Mexico’s role as a global leader in this space.

Championing big, futuristic ideas isn’t always easy, but if we keep an open dialogue with our stakeholders and communities, New Mexico’s investments in this industry of the future will pay dividends for generations to come.