U.S. Chamber Launches Business Council

WASHINGTON, D.C. – The United States Chamber of Commerce today announced the launch of a broad-based effort to advance the interests of U.S. businesses in the commercial development of space, through the first-ever Space Enterprise Council. The Council's formation is in response to requests for such a forum from member companies following the Chamber's 1999 Forum on the Future Development of Space.

"There are many challenges and uncertainties in commercial space development, but American businesses must continue to play the leading role in this vital arena," said Chamber President and CEO Thomas J. Donohue. "We welcome U.S. space-oriented businesses to join us in our mission to create the best environment for space commerce."

The Chamber expects interested businesses to include not only traditional space and aerospace companies, but also other industries such as: mobile and remote communications; TV broadcast services; credit card and ATM transaction processing; pharmaceuticals; oil and gas exploration; civil planning and mapping; disaster management; insurance and risk management; financing – even travel and tourism.

Companies who have committed to pioneer this initiative include: Banc of America Securities LLC, the Boeing Company, DynSpace, L-3 Communications, Lockheed Martin and Space Imaging.

"The Space Enterprise Council will allow Banc America Securities – and other businesses interested in space-related ventures – to promote greater capital formation and sector-specific advances," said Hector Cuellar, Managing Director & Manager-Aerospace/Defense for Banc of America Securities LLC, the Council's first Charter Member.

The United States Chamber of Commerce is the world's largest business federation, representing more than three million businesses and organizations of every size, sector and region.

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