/

NASA Reports $71.2B Economic Output From FY 2021 Agency Programs; Bill Nelson Quoted

1 min read

NASA’s investments in space missions and research and development projects such as climate science contributed over $71.2 billion to the economy in fiscal year 2021, according to a new study of the agency’s second economic impact.

The study, conducted by the Voorhees Center at the University of Illinois at Chicago, showed the benefits of agency activities reached all 50 states and supported over 339,600 jobs nationwide.

Since the first report in 2019, NASA’s economic output rose by 10.7 percent, due in part to the Moon to Mars campaign. The program yielded almost $2.2 billion in tax revenue, while climate change research and technology investments generated close to $810 million.

Apart from financial and labor benefits, the agency has also been instrumental in the creation of 2,000 spinoffs of its products, processes, technologies or expertise since 1976.

“NASA partners with small businesses, industry, academia, and other government agencies to address engineering challenges, and to transfer out our technologies, capabilities, and data all for public benefit here on Earth,” said NASA Administrator Bill Nelson.

ExecutiveGov Logo

Sign Up Now! Executive Gov provides you with Free Daily Updates and News Briefings about Space