Richard Branson made the announcement today that the launch site for the Virgin Galactic Space program would be built in New Mexico 25 miles south of the town of Truth or Consequences. It will be 90 percent underground with only the runway and support facilities above ground.

Construction is expected to begin early 2007 and will cost $225 million.

Sir. Branson noted that there are currently 38,000 people that have made a deposit for a seat, including 100 “founders” who have paid the $200,000 price up front. With numbers like that it seems like a profitable venture.

Read the story as reported by ABC News

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