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ALBUQUERQUE, N.M. (AP) — The company behind plans to build a scientific ghost town says it is pulling out of a deal to develop the make-believe city near Hobbs.
Pegasus Global Holdings in May announced with much fanfare its selection of a 15-square mile site in Hobbs and Lea County near the Texas border for development of the Center for Innovation, Technology and Testing. Officials said they had hoped to break ground by the end of June.
Last month, Robert Brumley, managing director of the project, said groundbreaking would likely be delayed until August because of problems closing on the land. On Friday evening, he said the group was pulling out "due to some very complicated and unforeseen issues with acquiring the land." The deal involved both public and private parcels.
The group said it would begin reviewing proposals from 15 other New Mexico communities that had expressed an interest in the project. Hobbs and Las Cruces were the two finalists in the original site selection process.
"We are still very committed to locating in New Mexico if a site can be identified," Brumley said in a statement Friday evening.
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