Jan. 5—Saying now is the time to boost economic development efforts in the emerging aerospace sector, Spaceport America and The Borderplex Alliance signed a memorandum of understanding on Thursday — a first step they say in attracting new businesses and finding new opportunities for growth.

Officials from both organizations, including Spaceport Executive Director Scott McLaughlin and Borderplex CEO Jon Barela, held a news conference to discuss the efforts that can take place following the partnership.

“If you were to collectivize or to regionalize our potential from Albuquerque and Los Alamos all the way down to Chihuahua City, the fact of the matter is that there’s no region in North America that has the (research and development) capabilities, the testing and evaluation capabilities and the manufacturing capabilities that we do,” says Barela, a former cabinet secretary for the New Mexico Economic Development Department. “This is the first step in telling the rest of North America and indeed the rest of the world that we in fact as a region are extremely formidable in these areas.”

Barela said the first phase of the MOU will see the two organizations promote not only the Spaceport but the regions at trade shows across the country.

Toward the end of this year and in the long term, he said, the two organizations will work toward attracting new businesses to the region.

“Clearly, if we get some of these opportunities, Spaceport America is very well positioned as is our region for these types of companies,” Barela said. “Of the 14 commercial spaceports that have been licensed, nothing compares to what they have and the capabilities (they have) — not even close. We just need to get the word out.”

The aerospace sector, said Spaceport Director of Business Development Francisco Pallarres, is already massive and only expected to grow. In the next 15 to 17 years, he said, he expects it to grow to a trillion dollar industry.

He added that a large cluster of aerospace manufacturing is located in Mexico, saying the MOU will help bridge important partnerships with companies stateside.

McLaughlin agrees.

“Focusing on aerospace and space in this region is really the same as focusing on what happened with the internet when the internet first started, and how many people wish they bought a lot more Amazon stock or Apple stock. That’s where we are right now in this region,” McLaughlin said. “Just the amount of cargo that has to go to space over the next 20 years is perfectly suited for Spaceport America.”