U.S. Chamber Calls Space Next Business Frontier

WASHINGTON, D.C.-The Space Enterprise Council of the United States Chamber of Commerce today gathered business leaders and government officials for a conference to explore new commercial space opportunities and how to encourage non-space companies to use the space station and other NASA vehicles to expand services and develop new products.

"We aren't just talking about pizza deliveries and millionaire tourists," said Greg Lebedev, Chamber executive vice president for international affairs and national security. "We are talking about serious entrepreneurial opportunities - space as the platform for human progress, the next business frontier.

"Tremendous business opportunities exist in sub-orbital cargo delivery, passenger travel, biotech research and development and media filming at the space station," said Lebedev. "The Space Council recognizes the need to encourage these new ventures by attracting private investment and promoting tax and other financial incentives."

The "Market Opportunities in Space: The Near-Term Roadmap" conference included panel discussions with representatives from cargo delivery, tourism, pharmaceuticals, biotechnology, power, media, entertainment and other industries that are seeking space commerce opportunities but are frustrated by financial and regulatory barriers.

"In the mid-1980s, researchers predicted that commercial space activities would yield more than $50 billion in annual revenue within a decade," said Lebedev. "So far we have failed to make that vision a reality, but with the proper resources and lifting of regulatory barriers we can attain the promise of robust commercial use of space. The question is when, not if, this future will arrive."

Collaboration between industry, the U.S. government and international organizations has produced significant strides toward opening the space frontier to commercial activities, according to Lebedev. The conference, co-sponsored by the U.S. Department of Commerce Office of Space Commercialization and the Space Transportation Association, will produce a blueprint for future government-industry cooperation.

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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