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March 28, 2007

Richard Branson eyes New Mexico spaceport

LAS CRUCES, N.M. (AP) — New Mexico officials have set the ground work to lease part of its commercial spaceport to Virgin Galactic as a base for its space tourism company.

British entrepreneur Richard Branson and the state signed a 37-page memorandum of agreement Monday, setting the terms of a lease that calls for the company to pay the state $27.5 million over 20 years.

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