WACO, Texas — Space travel could create a boom in the Texas economy, according to Economist Ray Perryman of the Perryman Group.
Perryman believes that by 2040, space economy could create more than 400,000 jobs and $35 billion in personal economy.
He says that companies like SpaceX, Blue Origin and XCOR Aerospace Design having facilities in Texas will only be a benefit moving forward.
"That's what tends to happen with space-type investments," he said. "Once you get a campus in place, you do tend to expand and build on it because of the synergies. It also has supply chain effects that can really create opportunities for Waco and Temple and other cities around Central Texas."
Perryman says that 102,000 jobs currently exist in Texas thanks to the space economy.
He believes that the gross product in the United States is estimated to expand upwards of 120 percent to 140 percent.
Texas has been routed in space business and travel for a long time, making it a logical place to grow the industry.
"Houston was space city, the Astros were named because of that, the Astrodome was named because of that, it's part of our heritage and culture."
6 News reached out to SpaceX on Friday inquiring about the number of employees they have at their McGregor facility but did not hear back.