ProSpace is proud to announce our 17th annual March Storm, which will take place in Washington, DC on March 13-15, 2011. On those dates ProSpace members will take their Citizens’ Space Agenda to Capitol Hill and brief members of the House and Senate on their plan to create new high paying jobs through innovation in the commercial space sector.
The major initiative to be unveiled will be legislation to craft significant incentives to spur the creation of whole new uses for commercial space. Titled “The Zero-Gravity, Zero-Tax Act of 2011” this approach will overcome one of the major obstacles to attracting investment in new ventures. By creating a tax holiday on the profits of new commercial space business enterprises, this bill will be a magnet for new capital, which will in turn create thousands of new high-paying jobs here in the United States.
“One negative aspect of attracting new investment to brand new uses for commercial space has been the long lead time required before a company sees profits, “ observed ProSpace board member Dennis Wingo. “Providing a tax holiday on those profits when they are finally realized will incentivize venture capitalists to invest in these new sectors.”
“Innovation has long been a primary driver of job creation in the United States,” noted ProSpace Chairman Marc Schlather. “Studies have shown the majority of new jobs come from new companies and many of those companies are in brand-new businesses. It makes real sense to provide incentives to drive that innovation.”
ProSpace members will also voice strong support for utilizing commercial space companies to transfer crew and cargo to the International Space Station. NASA last year announced their intention to rely on private industry to fulfill this role and the past year has seen major developments in the ability of those companies to begin service.