The symposium will gather government officials and leading economic researchers to discuss the broader economic effects of public research and development (R and D) investments in space. Attendees will have the opportunity to engage in academic presentations, a panel discussion, and insights from the upcoming FY23 NASA Economic Impact Report. Heather Boushey from the President's Council of Economic Advisers will deliver the keynote address, marking the first time a CEA representative has spoken at NASA.
The event will delve into various viewpoints on the economic impact of NASA's investments, ranging from immediate effects on employment to the long-term influence on productivity. The goal is to provide a more integrated understanding of how NASA's spending contributes to the broader economy. For additional details, a preview of the agenda, and RSVP information, see the link provided below. Participation is encouraged, and we look forward to your attendance.
The broader economic implications of government spending on space have been a recurring subject of interest within NASA and among federal policymakers. While NASA's missions typically emphasize scientific and exploratory goals, the agency's economic impact is frequently examined by Congress and the public. NASA's biannual Economic Impact Report assesses the benefits of its spending nationwide, addressing both the immediate and long-term economic effects.
Recent research highlights the substantial long-term impacts of space-related R and D investments, with some studies estimating that NASA's non-defense R and D spending has contributed significantly to business productivity growth since the postwar period. These investments have been associated with social returns-benefits to society-estimated at around 200% per dollar spent, compared to a 67% return on overall U.S. R and D investment. Treasury Secretary Janet Yellen has emphasized the need for increased federal R and D spending, noting that it is currently undersupplied.
The symposium aims to provide a platform for discussing these findings and their implications for national space policy. By bringing together diverse perspectives on the economic impact of space investments, the event seeks to offer a comprehensive view of how NASA's activities contribute to American economic resilience and growth.
Register to attend in-person or virtually through WebEx: https://nasaevents.webex.com/weblink/register/r87edd3ab76a8929e05115dc74063e295
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