HOBBS, N.M. - The company planning on building a scientific ghost town near Hobbs had a change of heart.
Pegasus Global Holdings says complications involving the land deal forced them to pull out.
Last May, the group selected a 15-square mile site in Lea County for development of the center for innovation, technology and testing.
A city would be built without residents to help researchers test new technology.
Officials had hoped to break ground by June but it was delayed last month.
Now they're going to review proposals from other communities in New Mexico that had expressed interest in the project.
The price tag for the high tech ghost town is $1 billion.