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But it's his work that will send people out of the state - far out of the state, into space - that's the most exciting, says Homans, secretary of the state Economic Development Department.

"I think this will go down as one of the most historic events in New Mexico. People are going to go into space from New Mexico," Homans said Monday by telephone from London, before today's announcement that the British company Virgin Galactic would launch space tourists from southern New Mexico.

"We're giving birth to a whole new industry," Homans said.

On Wednesday, Homans will be back in New Mexico. He and Gov. Bill Richardson, along with Virgin Galactic founder Sir Richard Branson, will have a news conference giving more details about how the state will finance the $225 million project. Public money will be used to build the spaceport, Homans has said.

The Governor's Office has said spaceport-related activity one day could generate up to $500 million a year and an estimated $20 million in tax revenue for the state.

The port is one part of the state's overall push to attract aviation and space-related companies and jobs to New Mexico.

The state so far has committed to investing $10 million in developing the spaceport.

Ground is expected to be broken early next year on the complex near Upham, north of Las Cruces.

The area now is little more than a remote expanse of Chihuahuan Desert dotted with scrub brush and tumbleweed, but promoters picture hotels and a booming hub of space-related activity.

"It's not every day that New Mexico gets to occupy a leadership role in an industry that fascinates and intrigues the entire world," Homans said.

Virgin Galactic said it selected New Mexico as the site for its headquarters because of its steady climate, free airspace, low population density and high altitude - factors that can significantly reduce the cost of the spaceflight program.

According to an Associated Press report on today's announcement in London, some 38,000 people from 126 countries have put money down for flights; 100 "founders" have paid $200,000 up front for a seat.

Flights could be taking off by as early 2009.

Virgin will have a 20-year lease on the port, with annual payments tied to $1 million for the first five years and rising to cover the cost of the project by the end of the lease.

The Southwest Regional Spaceport is to be built 90 percent underground, with just the runway and supporting structures above ground.

Stephen Attenborough, the Virgin Galactic executive in charge of marketing the spaceflights, said in London the 100 founder members were committed to "stepping up to the plate" and boarding a flight early in the operations.

"Many of the others will need to wait until the price comes down and will want to wait for proven reliability and safety," he said.

The spaceport eventually will be the site of the X Prize Cup, a private spacecraft exposition that's slated to take place at the White Sands Missile Range next year.

One company, Up Aerospace, has already committed to launching a suborbital rocket from the port in 2006. Another company, Starchaser Industries, a space vehicle building company, will locate an office in Las Cruces.

The Associated Press contributed to this report.