Spaceport America, Virgin Galactic sign lease agreement

The final obstacle to the beginning of construction of Spaceport America in New Mexico has been overcome. On Wednesday the state announced that it signed a long-term lease agreement with Virgin Galactic, who will be the anchor tenant of the spaceport. The agreement had been in the works for some time, and earlier this month, when the spaceport got its FAA license, state officials said a lease agreement would be completed this month. The exact terms of the lease weren’t disclosed, other than it runs for 20 years and requires Virgin Galactic to establish its world headquarters in New Mexico.

Completing the lease agreement was one of three major milestones that needed to be achieved before state money could be released to allow construction of the spaceport facilities to begin. The FAA license was one of the other two, and the third, the creation of a local tax district, was achieved earlier this year.

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