What’s Virgin Galactic REALLY paying at Spaceport America

In testimony before an interim legislative committee yesterday Spaceport America yet AGAIN made a plea for more tax money (an additional infusion of $2 million) to keep the facility afloat. Unfortunately, it is hard to verify exactly what Virgin Galactic is currently paying to use the facility.

At the hearing and in media reports, the facility’s executive director claims that Virgin Galactic is paying nearly $6 million annually to the State of New Mexico.

But, according to a modified lease agreement signed on December 21, 2018, Virgin Galactic is paying an annual lease of just $2.3 million annually (details are spelled out in the link above). BUT, an item in the lease states, “In the event VG conducts no revenue-generating spaceflights for a period of three (3) or more consecutive calendar months, VG shall pay NMSA a user fee of fifty thousand dollars ($50,000) per month” (that’s just $600,000 annually).

Since Virgin Galactic has NEVER taken a paying customer to space, it would seem that they are paying rent of just $600,000 annually.

There’s a gaping difference between $6 million and $2.3 million or $600K). Where is the extra money supposed to be coming from? And what evidence do we have that ANY money is actually coming in?

How much has Spaceport America cost taxpayers? - KVIA

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2 Replies to “What’s Virgin Galactic REALLY paying at Spaceport America”

  1. The spaceport is nothing more than a tax payer funded boondoggle. Never heard Richard Branson thank the taxpayer’s of NM for his space flight. Then Virgin Galactic on last flight violated their flight plan thus being grounded by the FAA. Another bad NM tax expense, kind of smells like Bill’s rail runner.

  2. I apologize. I was FOR the Spaceport. I was wrong. Seems like the
    shady biz hasn’t ended, either. The property may yet make money,
    but it is getting long, isn’t it?

    I honestly thought NM was on a roll to get out of the doldrums, and something new would help. I forgot: The Adobe always wins.

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