NASA Economic Impact Report 2024 [Nov/2024]
NASA just released its Economic Impact Report 2024, highlighting the Agency’ significant role in generating economic benefits nationwide. According to the Report, NASA’s spending and activities in Fiscal Year 2023 contributed $75.6 billion to the U.S. economy.
Through its research, development, and contracting activities, NASA supports nearly 305,000 jobs across the country, with more than $3.5 billion in annual wages and benefits. This creates a ripple boosting effect, as NASA contracts for goods and services stimulate economic activity. In FY 2023, NASA contributed $27.6 billion in labour income and an estimated $75.6 billion in economic output. The agency’s broader economic footprint is even larger, as each NASA job supports nearly 16 additional positions across the U.S. economy. The average annual income for a NASA-supported job is about $90,547—24% higher than the national average—helping to raise income levels in the communities where NASA operates. Furthermore, the agency’s activities generate $9.6 billion in tax revenue at all levels of government, underscoring its role as significant contributor to public finances.
NASA’s economic impact is concentrated across specific sectors and regions. Scientific research and development services are the most affected, accounting for 19% of total employment impacts. Geographically, the agency’s largest employment effects are concentrated in ten states, including California, Texas, Alabama and Florida, which together represent 90% of the jobs sustained by NASA’s activities.
A major driver of NASA’s economic impact is the Moon to Mars (M2M) campaign, which accounts for 32% of the agency’s overall impact and 29% of its employment effects. The M2M initiative supports over 96,000 jobs nationwide and generates $23.8 billion in economic output annually. For each civil service job directly tied to M2M, nearly 25 additional jobs are created, highlighting the far-reaching effects of the program.
NASA’s economic influence also extends to climate change research and technology, which account for 11% of the agency’s total economic impact and 9% of employment effects. This research supports around 33,000 jobs and generates $7.9 billion in annual economic output. Each NASA full-time equivalent job related to climate change indirectly supports 15 additional jobs, further amplifying the agency’s broader economic reach.
NASA’s investments in space exploration, climate research, and technological development play a crucial role in driving economic growth. By supporting jobs, and contributing to economic output and tax revenue, NASA remains a key engine of economic activity in the U.S.
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