The GZ-20 model was introduced to Goodyear's fleet in 1969. In 2006, the name Innovation was given after a public name-that-blimp contest.
Throughout its career, Spirit of Innovation flew over hundreds of prominent sports and entertainment events across the US, including the NBA Finals, the Billboard Latin Music Awards, the Academy Awards, the Zurich Classic and the Super Bowl.
"Because a Goodyear Semi-rigid Dirigible doesn't roll off the tongue", Ogden told the AP.
The blimp's replacement, "wingfoot two" will look about the same, but instead of an inflatable blimp, it will be a dirigible with a frame. That feature allows the Wingfoot Two to maintain its shape whenever helium is drained from its interior.
The new airships are faster, larger, easier to fly, and quieter. The dirigibles would be similar-looking like blimps, but would be 50 feet longer at 246 feet.
They'll also be able to take off and land like a helicopter.
With the lifespan of the envelope nearing an end, it was time to mothball it, said Matthew St. John, chief pilot at the Carson airship base and the man who took the blimp on its final flight above last month's Academy Awards. Other parts are going to museums, and the envelope is being recycled.