It would be cool, and there would be lots of people with job. But, noise and pollution and what wild life are we loosing and marshes, and we are next to the ocean - what would be destroy out there? I would have thought somewhere in the middle of nowhere would be somewhere we could lose land for that sort of thing. Of course, I have not done my research to really make this statement...
It's really just a matter of latitude. The site they've selected would allow launched spacecraft to start on the same orbital trajectory as the International Space Station. I'll admit though that I didn't really think about the environmental impact of the planned installation.
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* Okay, so it was more like "Wowee!" and "Jeepers!" .___.
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