$1 trillion is at stake in space. Will Texas continue to lead in innovation?

In 2023, Texas clearly emerged as a powerhouse in the rapidly expanding private space sector, according to the U.S. Bureau of Labor Statistics and a report by the Texas Economic Development Corporation.

With Morgan Stanley forecasting this sector to rocket to a $1 trillion valuation within 20 years, Texans are poised to reap major benefits from this high-flying industry.

It’s not just NASA. Aerospace has made its mark in Texas.

NASA has turned Houston into the Space City, which has become an anchor for Texas’ aerospace industry, but many may not realize that the presence of aerospace companies has grown across the state.

There are more than 2,000 aerospace establishments located in Texas, according to the latest data from the U.S. Bureau of Labor Statistics.

Texas is also a leader in aerospace manufacturing with 18 of the 20 largest manufacturing companies operating in the state, including Lockheed Martin, Raytheon, Boeing and more!

Why is space worth the investment? Because big dollars are directed to Texans and their communities.

Starship launching from SpaceX’s Starbase in Boca Chica, Texas on March 15, 2024. (Source: SpaceX)

Did you know?

🚀 Space Center Houston generates annually a $118.7 million economic impact, 1,710 jobs and $53.7 million in personal income in greater Houston, according to a 2018 study by Quanticon, LLC.

🚀 SpaceX invested more than $1 billion in its Boca Chica facility, including over $400 million for operations in 2021, according to the Brownsville Herald.

🚀 The average annual wage for Texas aerospace workers reached $100,000 in 2023, the Bureau of Labor Statistics reports.

Six ways Texas is laying the ground work for space.

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