The Prince George’s County Council on Tuesday approved a plan to finance a scaled-down version of the Sphere entertainment venue right next to the MGM National Harbor Hotel & Casino.
The 8-0 vote allows county officials to authorize up to $215 million in bonds so Prince George’s can fulfill the public financing portion of the $1.4 billion complex.
Three members of the 11-person council were not in the room when the votes were cast. While the project was largely supported by local lawmakers, as well as Gov. Wes Moore, there was some previous disagreement about the role unions would have in the site’s construction.
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The projected 6,000-seat Sphere in Maryland is smaller than its big brother in Las Vegas, with the 18,000-seat venue and its exterior wraparound display that is now a fixture of Sin City’s skyline.
But Prince George’s County Executive Aisha Braveboy said she expects the Sphere to be a boon for the local economy that witnessed Six Flags of America close last year and will see the Washington Commanders move to the District in 2030.
“Today marks a turning point for the economic future of our county,” Ms. Braveboy said at a news conference after the vote. “Today, Prince George’s County enters the global stage and redefines itself as a destination for investment, entertainment, technology and innovation.”
Ms. Braveboy said the Sphere will bring in $1.3 billion to Prince George’s County and $1.5 billion for the state of Maryland once it’s completed. The financing plan allows construction crews to break ground in the coming months, with the project expected to be completed in four years.
The deal calls for the county to build a $40 million parking garage and make $130 million available through bonds.
The Sphere intends to pay back the county through tax revenues once it’s up and running, which Ms. Braveboy said will bring in about $63 million annually in property, sales and amusement taxes.
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