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Spaceport America economic impact study lacks documents

By Clip Syndicate
A NewsChannel 9 investigation reveals serious problems at Spaceport America in New Mexico. The $220 million, taxpayer-owned launch site for vehicles going into space is owned by New Mexico and managed by a team paid for with tax dollars.

http://eplayer.clipsyndicate.com/view/12503/6920391 Video: Spaceport America economic impact study lacks documents
A NewsChannel 9 investigation reveals serious problems at Spaceport America in New Mexico. The $220 million, taxpayer-owned launch site for vehicles going into space is owned by New Mexico and managed by a team paid for with tax dollars.
http://chic.clipsyndicate.com/video/playlist/12503/6920391?cpt=8&wpid=2637 Wed, 17 May 2017 11:43:42 +0000 Spaceport America economic impact study lacks documents A NewsChannel 9 investigation reveals serious problems at Spaceport America in New Mexico. The $220 million, taxpayer-owned launch site for vehicles going into space is owned by New Mexico and managed by a team paid for with tax dollars. http://chic.clipsyndicate.com/video/playlist/12503/6920391?cpt=8&wpid=2637 KTSM in new mexico was supposed to be the home of commercial space tourism. at least that's what they promised taxpayers in 2009. and despite losing millions of dollars.and an obvious lack of activity. spaceport administrators are claiming to have a 20- million dollar economic impact. zach: "and the economic impact in fy16 was $20 million so that's for every dollar spent there was a 20 times return." if $20 million sounds too good to be true...it probably is. that's according to chris erickson.an economist at nmsu. chris: "this is a classic mistake people do when they're doing impact studies which is they only look at the positives and they don't take into account the cost." graphics/patrick: here are the numbers that spaceport america has been showing lawmakers.claiming to have a 20-million dollar return on the state's one million dollar investment. notice.how it doesn't mention how much dona ana county gave them to help pay off the 220- million dollars in bonds used to build the spaceport. it also doesn't mention how the spaceport generated 2.3 million dollars fy16 but spent more than 4.2. so i asked.how a company that lost 1.9 million in fy16.had a 20 million dollar economic impact. their answer was out of this world. the spaceport's cfo says he did an economic impact study but didn't use any documents. zach: "it's a little bit more anecdotal. so i had these conversations with local business owners and used some various assumptions basically to create this powerpoint presentation that we talked about today." patrick: "so no documents besides the powerpoint?" zach: "it's just the powerpoint. chris: "of course, presenting a slideshow is pretty typical but you'd expect documentation to backup that slideshow." butt to: "what i really worry about is the spaceport losing its credibility with the legislature." state senator george munoz has been skeptical of the spaceport and told me he think it's a bad investment. "the spaceport has been a boondoggle for the last couple years." butt too: "if you're telling us you're doing something or doing $20 million in business or have a $20 million benefit to the community and when you're asked the question, can you prove it or show us numbers and they can't and they just say they made them up. how do you tell a kid that needs lunch, sorry, we gave this money to spaceport instead of meal for education." erickson disagrees and says the spaceport has potential but its managers don't know what they're doing. chris: "and i think you can make the argument that the spaceport is a good investment for the state but the problem is when you use these funny analysis that's using trumped up numbers that just undercuts the credibility of the spaceport administration and spaceport management." zach: "what i normally would have done.what's typically done is that i would have written a 150-page report but you have to realize that i run an accounting department for spaceport america and so what i'm able to do with my resources is a thorough analysis which we take to the legislature and testify." patrick: when i tried crunching my own numbres.getting copies of some spaceport's contracts became a problem. when i finally heard back.they tried charging for documents that i should have been able to inspect for free. peter: "you know, their response to use is really alarming." patrick: peter st. cyr is the executive director for the new mexico foundation for open government. he's also an expert in the state's inspection of public record act. patrick: "taxpayers have invested hundreds of millions of dollars into this facility and the spaceport managers don't get to impose their won secrecy rules and block access to the documents that allow you and the public to scrutinize their day-to-day operations and their affiliations with these private companies. they also have no right to block you from inspecting them and making your own copies with your own equipment." patrick: when i asked spaceport why they weren't following the state's "sunshine" laws.they sent me back this statement which reads in part.quote. what's next sot from sen. munoz tag: in addition to the money being generated by tax increases in dona ana county... spaceport received 1.6 million dollars from the state in fy 17. for more information about this story check out our website at el paso proud.com. a newschannel 9 investigation reveals serious problems at e spaceport america in newmexic our reporter, patrick hayes, show us how they're losing credibility with lawmakers and why others say its managers are breaking the law. generated by tax increases in dona ana county... spaceport received more than a million dollars from the state for this fiscal 2017. for more information about this story... ...check out our website at el paso proud dot com. linda: coming




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