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U.S. commercial space transportation industry valued at $61 billion
Posted: Wed, Feb 7, 2001, 12:35 PM ET (1735 GMT)
The American commercial space transportation industry accounted for $61.3 billion in economic activity in 1999, an FAA report issued Wednesday concluded. The report, using data collected by the Satellite Industry Association, is the first to quantitatively measure the economic impact of the commercial launch industry on the American economy. Most of that activity over $56 billion is generated by satellite manufacturing and services, with launch vehicles making up most of the rest. Direct spending on space accounted for less than $10 billion of that total, with the remaining activity in indirect and "induced" spending in the broader economy. The report also notes that the industry employs, directly or indirectly, nearly 500,000 people and accounts for $16.4 billion in employee earnings.
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