The government backs plans for a spaceport and a huge expansion of the UK space industry.
The spaceport would be used to launch spacecrafts and satellites into orbit.
The government wants an increase in investment in the space industry to £40bn by 2030.
It also wants to have a port that would allow tourists to go to space.
Similar projects are already being developed in the US.
Dr David Parker, chief executive at the UK Space Agency said:
"Our vision is to make the UK the most attractive location for space businesses to set up and prosper - and I'm convinced we are on our way."