The expansion of Georgia's $51 billion aerospace industry was the main focus July 29 when representatives from government, industry, academia and the investment community gathered at the Georgia Tech Research Institute (GTRI) for the Georgia Space Leadership Summit.

Currently, the Georgia aerospace industry generates $51 billion in annual economic impact.

That number is encouraging, says AE Prof.Robert Braun, but it should not be considered the end point. The director of the Georgia Tech Center for Space Technology and Research (C-STAR), Braun believes that drastic changes on the federal level can create new opportunities for Georgia to contribute to the nation's space economy.

"When I look at what’s going on in space, it’s a pivotal time for our nation," said Braun.

"Big changes are taking place in the space sector, which is shifting more to a commercial market. Private companies are already transporting cargo to and from space. Someday soon, they will take people into orbit. The federal government wants to create additional commercial opportunities and build our nation's technological capability."

"This is an excellent time for Georgia entrepreneurs and technologists who have great ideas. From providing data about the Earth, developing new materials, biological, or pharmaceutical endeavors, if you can do it efficiently, your idea can take off on its own merits. The federal government would have crushed these ideas 10 years ago. Officials would have said, 'We do that. NASA does that.'"

"Now the federal government is reaching out to companies, trying to build the nation's space economy and technological foundation. Universities, small businesses and state agencies committed to aerospace research and development have a wealth of ideas. Now is the time to turn some of those ideas into reality, into real businesses with significant economic impact."

Find out more about the Georgia Space Leadership Summit.