BROWNSVILLE, Texas – The potential benefits to Brownsville in particular and the Rio Grande Valley as a whole of expanding their presence in the NewSpace economy were discussed at the recent BTX Developers Event.
The event was hosted by the Rio Grande Valley Partnership in conjunction with Greater Brownsville Incentives Corporation and the City of Brownsville. The even comprised a luncheon attended by real estate developers, potential investors and community leaders and two bus tours, one that took in downtown Brownsville and another that featured the city’s industrial parks and international airport. The luncheon was held at the Brownsville Events Center.
One of the keynote speakers spoke in depth about the NewSpace economy – Brant Arseneau, founder of Spaced Ventures and 9Point8 Capital. Arseneau, pictured above, has based his finance company in Brownsville.
According to Wikipedia, Joseph Brant Arseneau is “an entrepreneur and executive, best known for his work in both fintech and space technology. He is generally known in finance for his work in Electronic Trading, Renewable Energy Derivatives, and Capital Markets technology.”
In his remarks, Arseneau spoke about NewSpace today being in roughly the same place as the digital economy was in the mid-1990s. In other words, it is poised for rapid growth.
“Right now, about $400 billion of revenue is being generated within the industry. Morgan Stanley and Bank of America feel that that is going to grow to $1.4 trillion dollars by 2030 and, further, to $3 trillion by 2040. And just to put that into perspective. The oil and gas industry is around $3 trillion. So, it is quite a mass ver amount of capital flowing into the industry.”
Here are his remarks:
Editor’s Note: The above podcast is the third in a five-part series on the recent BTX Developers Event. Click here for Part One, featuring Constanza Miner, Brownsville’s retail and redevelopment manager. Click here for Part Two, featuring Brownsville City Manager Noel Bernal.
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