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All hail the Mini Sphere. Earlier this week, Sphere Entertainment Co., the State of Maryland, Prince George’s County and Peterson Companies announced today their intent to develop a new Sphere venue at National Harbor, the development spearheaded by Peterson Companies that has played host for several years to the SelectUSA Investment Summit.
“Our focus has always been on creating a global network of Spheres across forward-looking cities,” said James L. Dolan, executive chairman and CEO of Sphere Entertainment and of Madison Square Garden Entertainment Corp. (MSG Entertainment), whose sports division owns the NBA’s New York Knicks and the NHL’s New York Rangers. While the full-scale Sphere in Las Vegas is the pioneer and a second is in development in Abu Dhabi, this project will be the first developed on a smaller scale, i.e., a planned 6,000-seat capacity vs. the 18,600 seats in Las Vegas. But that doesn’t mean small investment.
“This project would utilize a combination of public and private funding, including approximately $200 million in state, local and private incentives,” the official announcement stated. “Sphere would support approximately 2,500 jobs during the construction phase, and 4,750 jobs once operational, in addition to generating millions in additional revenue for the County and State. Once open, the economic impact of Sphere National Harbor is expected to be greater than $1 billion annually.”
“This will be one of the largest economic development projects in Prince George’s County history — proving once again our state is the best place in the country to bring dreams to life,” said Maryland Governor Wes Moore. “We’re excited for what this means for our people, and how it will showcase the best of what Maryland has to offer to everyone who visits.”
Located 15 minutes from Washington, D.C., National Harbor already welcomes more than 15 million visitors annually. — Adam Bruns
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