Sept.

17, 2007

David Mould/Michael Cabbage

Headquarters, Washington
202-358-1898/2339
david.r.mould@nasa.gov, mcabbage@nasa.gov

RELEASE: 07-193

NASA ADMINISTRATOR GRIFFIN DISCUSSES VALUE OF THE SPACE

ECONOMY

WASHINGTON - NASA Administrator Michael Griffin kicked off a lecture

series honoring the agency's 50th anniversary with an address Monday
describing the critical role that space exploration plays in the
global economy.

The "space economy" was estimated at about $180 billion in 2005,

according to a report by the Space Foundation released in 2006. More
than 60 percent of space-related economic activity came from
commercial goods and services.

"NASA opens new frontiers and creates new opportunities, and because
of that [NASA] is a critical driver of innovation," Griffin said. "We
don't just create new jobs, we create entirely new markets and
possibilities for economic growth that didn't previously exist. This
is the emerging space economy, an economy that is transforming our
lives here on Earth in ways that are not yet fully understood or
appreciated. It is not an economy in space -- not yet. But space
activities create products and markets that provide benefits right
here on Earth, benefits that have arisen from our efforts to explore,
understand, and utilize this new medium."

Since NASA's birth almost a half-century ago, military and political

competition in space largely has faded away. The focus of space
exploration today is in the economic arena. Rising living standards
and technological advancement around the world mean greater
competition from places that were never competitors before.

"If technological innovation drives competitiveness and growth, what

drives innovation?" Griffin said. "There are many factors, but the
exploration and exploitation of the space frontier is one of them.
The money we spend -- half a cent of the federal budget dollar -- and
the impact of what we do with it, doesn't happen 'out there.' It
happens here, and the result has been the space economy. So if
America is to remain a leader in the face of burgeoning global
competition, we must continue to innovate, and we must continue to
innovate in space."

NASA is uniquely positioned to drive the space economy with

technological innovation. Griffin cited a number of examples where
the space economy yields tangible benefits for people here on Earth.

"We see the transformative effects of the space economy all around us
through numerous technologies and life-saving capabilities," Griffin
said. "We see the space economy in the lives saved when advanced
breast cancer screening catches tumors in time for treatment, or when
a heart defibrillator restores the proper rhythm of a patient's
heart. We see it when GPS, the Global Positioning System developed by
the Air Force for military applications, helps guide a traveler to
his or her destination. We see it when weather satellites warn us of
coming hurricanes, or when satellites provide information critical to
understanding our environment and the effects of climate change. We
see it when we use an ATM or pay for gas at the pump with an
immediate electronic response via satellite. Technologies developed
for exploring space are being used to increase crop yields and to
search for good fishing regions at sea."

Griffin's lecture followed a luncheon Monday at the Renaissance

Mayflower Hotel in Washington. It was the first in a series that will
honor NASA's 50th birthday. The space agency began operations on Oct.
1, 1958. U.S. Rep. Alan B. Mollohan of West Virginia introduced
Griffin.

Future lectures in the series will feature prominent speakers to

discuss the benefits that space exploration, scientific discovery and
aeronautics research provide in addressing global issues such as the
economy, education, health, science and the environment. Lockheed
Martin Corporation of Bethesda, Md., is co-sponsoring the two-year
lecture series.

For the complete text of Griffin's speech, visit:

http://www.nasa.gov/pdf/189537main_mg_space_economy_20070917.pdf

For information about NASA and agency programs, visit:

http://www.nasa.gov

-end-