He described Mr Beck as a very committed and focused man with a strong vision.
"Back when he started talking about what he wanted to do there were some people who laughed at him but he has proved he can do it."
He said Mr Beck's vision, coupled with his passion for ensuring everything he did was extremely precise, had drawn some of the very best minds in the rocketry scientific field to join him.
And he predicted there would be more to come as the Rocket Lab business grew.
It would have a beneficial effect within the local tourism industry.
"People love space and they love rockets — they will come here to see this."
Mr Nash said there would also be an increase in the ground staff required by the company, as well as the arrival of businesses from all over the globe to see their satellites go into space.
"And these people spend money — there is absolutely no downside to this."
He paid tribute to Trevor Mallard, who was Economic Development Minister when the Rocket Lab programme started to develop back in 2006 and gave it his, and the Government's, thumbs-up.
"In those early days he simply said 'I believe in you and we will help you' so full credit to him."
The Government injected about $25 million into the programme over five years.
Mr Nash also applauded the stance of the Wairoa District Council.
"They saw the opportunity and did a brilliant job in helping make this happen," he said.
Through regulatory settings and engaging in meetings with stakeholders the council kept the wheels rolling.
"They did so well."
Mr Nash said the present Government would do all it could to ensure Rocket Lab continued to soar.
"Anything we can do to realise his vision — let's get on and do it."
He said at this stage he understood Mr Beck had not made any recent approaches, which he believed may be partly due to people around the world now lining up to be investors.
"But if he needs anything we will listen."
Mr Nash said he had no doubts at all that the Rocket Lab venture would produce solid dividends as it progressed.
"We can all take a lesson from this because we need to be world class in everything we do — and this is a world leader."
He has met Mr Beck on a couple of occasions and said he was an exceptional and focused individual.
And he has toured through the Rocket Lab several times and said as he did so he was astounded by the skills and preciseness of it all.
"And of course it is all about going into space ... so the little boy in me came out," he laughed.