The Space Economy Has Doubled in the Region since 2018
Washington state is well positioned to compete in a growing commercial space economy, according to new analysis led by the Puget Sound Regional Council.
PSRC has completed a 2022 update to the Washington State Space Economy report. The original report was developed in 2018 to help industry leaders, elected officials, policy makers, and local economic development professionals strengthen and support the commercial space sector.
The update shows that business activities tied to direct, indirect and induced impacts of the space industry contributed an estimated $4.6 billion in economic activity to Washington communities in 2021. This supports a total of 13,100 jobs and $1.6 billion in labor income overall.
Notably, regional businesses are at the forefront of commercial human spaceflight, which is projected to expand. In addition, the update reported that new startups are adding diversity to the region’s space industry beyond the major employers. The update highlighted that future development of the regional space economy would benefit from support for regional entrepreneurship, workforce development, and venture capital funding.
Analysis for the report and update was performed by BERK consulting, and was supported by contributions from Blue Origin, City of Kent, Suquamish Tribe, City of Redmond, Snohomish County, City of Federal Way, City of Everett, Port of Bremerton, City of Seattle, and the Aerospace Futures Alliance.