Australia, we have lift-off

New space agency to be launched

AUSTRALIA will officially enter the space race within weeks through the establishment of the nation’s first dedicated agency.

The Australian Space Agency, to open on July 1, will spearhead a push to grab a slice of the rapidly growing space industry. Estimated to create up to 20,000 jobs, the ambitious plan is expected to help triple the local space industry to $12 billion.

Innovation Minister Michaelia Cash, who will launch the agency today, said Australia had an “extraordinary opportunity” to increase its share of the growing space economy.

“Space technologies are not just about taking people to the moon, they open up opportunities for many industries, in- cluding communications, agriculture, mining, oil and gas,” she said.

“An Australian space agency will support the long-term development of space technologies, grow our domestic space industry and secure our place in the global space economy.

The government is yet to decide where the new space agency will be located, but it is understood Western Australia, South Australia, the Northern Territory and the ACT have all expressed interest in hosting the headquarters.

Australia is one of only two OECD countries without an advanced space program.

The Turnbull Government has committed $41 million to establish the space agency, which will initially be run out of the Department of Industry in Canberra. The funding include an initial $15 million to kick- start investment in international missions so Australian businesses can get into the global industry.

Australian Strategic Policy Institute senior analyst Dr Malcolm Davis said last week the initial investment would fall short of being “a mini NASA,” but it could serve to reduce the nation’s reliance on foreign firms for satellite technology and prevent a brain drain.

A $260 million investment was revealed in last week’s Budget to develop world-leading core satellite infrastructure and technologies.

The global space industry is worth more than $450 billion — and growing by 10 per cent every year — but Australia accounts for less than 1 per cent of that.

Former CSIRO chief executive Megan Clark will lead the new agency.