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Virgin Building Spaceport In New Mexico For Commercial Space Travel Starting In 2008…

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Virgin Galactic, the British company created by entrepreneur Richard Branson to send tourists into space, and New Mexico announced an agreement Tuesday for the state to build a $225 million spaceport.

Virgin Galactic also revealed that up to 38,000 people from 126 countries have paid a deposit for a seat on one of its manned commercial flights, including a core group of 100 "founders" who have paid the initial $200,000 cost of a flight upfront. Virgin Galactic is planning to begin flights in late 2008 or early 2009.

Read the whole story at Associated Press