15 Nov 2019

Huge potential touted for $1.7b space sector

From Morning Report, 8:52 am on 15 November 2019

The government says New Zealand's space sector has huge potential for growth beyond the $1.7 billion it already contributes to the economy.

A Deloitte report commissioned by the Economic Development Minister Phil Twyford says the industry employs, both directly and indirectly, 12,000 people.

Mr Twyford says the $1.7 billion contribution in the past financial year shows New Zealand has a globally unique and diverse 'New Space' economy driven almost entirely by the private sector.

Successful New Zealand-based company Rocket Lab has played a key part in the growth.