"New Mexico's Spaceport will be a magnet for space companies to bring their business here, which will send a message far and wide that we embrace entrepreneurs, adventure and innovation," Governor Bill Richardson said. "This investment in economic development and high-wage jobs will create a new industry that will transform the economy in Southern New Mexico. I look forward to a partnership with the federal and local governments to finally make this Spaceport a reality."
The Governor's funding package will be the cornerstone of a larger $225 million financial construction package that includes local, state and federal funding to build New Mexico's spaceport in Upham. The money, generated from severance tax bonds and available over the next three years, will be used to build infrastructure: including runways, roads, water, power lines, launch pads and a weather station. The state funding ($33 million in 2006; $33 million in 2007; and $34 million in 2008) will be available as certain milestones are met.
New Mexico is expected to benefit in the form of new jobs, revenue to the state and capital investment as a result of overall spending from suborbital and orbital activities, and research and development activities directly related to the Spaceport. A New Mexico State University study projects spending of $1 billion, payroll of $300 million, and employment reaching 2,300 by the fifth year of operation.
"Building this Spaceport lays the foundation for a whole new industry," said New Mexico Economic Development Secretary Rick Homans. "New Mexico will be the launch pad for America's second space age, centered on private sector innovation and personal spaceflight, and that means new jobs and new opportunities for New Mexicans."
Secretary Homans, who also serves as Chairman of the New Mexico Spaceport Authority, said the additional funding is expected to come from a combination of sources, including:
- Federal earmarks and appropriations over the next three fiscal years.
- Southern New Mexico cities and counties, by a proposed local option gross receipts tax, that will be decided by the voters.
- Other state sources, including future transportation funding and money that has already been approved by the Legislature for construction of the Spaceport.
The Governor's announcement comes the same day as a visit to New Mexico by Virgin Group, Founder and Chairman Sir Richard Branson, who is expected to announce that his new company, Virgin Galactic, is prepared to launch its spaceships, and paying customers, from New Mexico by 2009 or 2010.
The ticket price for passenger space flights is $200,000, with a minimum $20,000 deposit to secure a spaceship seat.
