Canberra will announce the creation of Australia's own space agency today.
The space industry is worth more than $400 billion around the world each year, and we already employ 11,500 people in the sector worth about 4 billion dollars.
But it turns out Australia is the only developed nation without a space agency, so now it's our time to jump on board.
Aussie NASA Andy Thomas believes it's about time things changed. He said "This country needs a space agency. It is time to make a space agency here in Australia, which can decide national policy, stratergise and help develop the infrastructure of space."
Every state has the opportunity to put their hand up to host the space base.
However at this point the research base is likely to be in Canberra and the operational base looks set for South Australia.
The exciting news comes off the back of International Astronautical Congress which is in Adelaide this week.