Why Cornwall Council Supports the Spaceport Cornwall Project5th May 2020
Cornwall Council will allocate most of the funds for the construction of Spaceport Cornwall. Their main aims are to take care of the environment and create new local jobs as well as strengthening the economy as a whole.
The grand idea of building a spaceport cannot be achieved without major investment. In addition to domestic and foreign investors, the Spaceport Cornwall project is supported by the British government.
Strong Government Support
Spaceport Cornwall promises to be profitable, both for companies providing satellite launch services and for the UK economy. Developers made some predictions for the activities that will take place at the facility between 2021 and 2030. Apparently, satellite launches will positively affect the development of the industrial sector and environmental protection.
The UK government and Virgin Orbit are involved in financing the adaptation of the airfield, with contributions of £7.85 million and £2.5 million, respectively. Cornwall Council also allocated £12 million to help the effort. Besides, the Council will finance tree planting in the area around the future spaceport, which will offset environmental damage from the carbon footprint left by rockets.
In the future, it is expected that companies providing satellite launch services will compensate for the negative impact of carbon on the region’s environment.
Spaceport Cornwall Will Offer a Great Return on Investment
The government, having invested in the construction of Spaceport Cornwall, expects benefits in the form of around 150 to 200 new jobs for the local population. Long-term spaceport operations require technical support, maintenance, and care, so a continuous stream of work. Therefore, specialists of different levels, operators, technical personnel will be needed. Naturally, the rapidly developing sector of the economy will provide tangible support to the state budget in the form of taxes and inward investment, it was already allowed for during the Spaceport project’s development.
Owning a convenient, advantageously located rocket launching facility, Spaceport Cornwall will build long-term relationships with various international organizations, local organisations, and make a unique contribution to the development of space. The launch of satellites from their own spaceport will be a motivating factor for the younger generation in the UK when choosing a profession, for doing science, technology, and even business. Cornwall Council seeks to increase the UK’s share in the global space sector to 10%, as well as create comfortable conditions for commercial space flights to become popular and affordable. This is a big plus for the economy and the image of the country as a whole. Spaceport Cornwall could prove to be an excellent investment for the Council.