The Importance of Space to the US Economy

Shortsighted, reckless plan: Cutting NASA’s budget would hurt economy BY ROBERT HOPKINS in Florida Today

Hertzfeld observed, although immense, the economic value of these space-based services and applications is not fully appreciated and is not included when calculating the size of the space economy.

In the same vein, former administrator of the National Oceanic and Atmospheric Administration (NOAA), Vice Admiral Conrad Lautenbacher explained that more than 87 percent of the U.S. GDP, or $12.1 trillion, results from private-sector activity that depends on access to and use of space systems, applications and infrastructure.

This activity comprises nearly every conceivable industry — agriculture, mining, transportation, utilities, insurance, finance, education, information.