Key Takeaways
- Sphere Entertainment announces plans to build a new venue at National Harbor in Maryland, with a 6,000-seat capacity and a smaller-scale design model.
- The project is expected to create over 2,500 jobs during construction and 4,750 jobs once operational, with an economic impact of over $1 billion annually.
- The venue will feature an Exosphere and a 16Kx16K interior display plane, the world’s highest-resolution LED screen.
- The project will be funded publicly and privately, with around $200 million in state, local, and private incentives.
- National Harbor is a top entertainment and tourism destination in the DMV region, attracting over 15 million visitors annually.
Introduction to Sphere Entertainment’s New Venue
Sphere Entertainment has announced its intention to build a new venue at National Harbor in Maryland, marking the second US location for the company. The new venue will have a 6,000-seat capacity and will utilize a smaller-scale design model, differing from the company’s existing venue in Las Vegas. According to Governor Wes Moore, Maryland has a long history of providing world-class entertainment, and the state is excited to work with Sphere Entertainment to bring this cutting-edge project to life.
Economic Impact and Job Creation
The project is expected to have a significant economic impact, with the creation of over 2,500 jobs during the construction phase and 4,750 jobs once operational. The economic impact is expected to be greater than $1 billion annually, making it one of the largest economic development projects in Prince George’s County history. The governor’s office has stated that the project will be funded publicly and privately, including around $200 million in state, local, and private incentives. This investment is expected to pay off, with the venue drawing original Sphere Experiences, concerts, and brand events year-round.
Location and Features of the New Venue
The new venue will be located at National Harbor, a top entertainment and tourism destination in the DMV region. National Harbor attracts over 15 million visitors annually and is situated along the Potomac River, just 15 minutes from Washington, D.C. The proposed National Harbor site will feature an Exosphere, the exterior LED display of Sphere, as well as a 16Kx16K interior display plane, the world’s highest-resolution LED screen. This technology will provide a unique and immersive experience for visitors, further reinforcing National Harbor’s position as a premier destination for conventions, entertainment, retail, and dining.
Partnership and Support
The project has received support from various stakeholders, including Governor Wes Moore, Prince George’s County Executive Aisha Braveboy, and the CEO of the Peterson Companies, Jon Peterson. According to James Dolan, executive chairman and CEO of Sphere Entertainment, the company’s focus has always been on creating a global network of Spheres across forward-looking cities. The partnership between Sphere Entertainment, the state of Maryland, and Prince George’s County is expected to elevate and advance immersive experiences across the area, making it an exciting moment for Prince George’s County and the entire region.
Conclusion and Future Plans
The announcement of the new venue at National Harbor marks an exciting development for the region, with the potential to create new jobs, stimulate economic growth, and provide a unique entertainment experience for visitors. As the negotiation and execution of definitive agreements continue, it is clear that the project has the potential to make a significant impact on the local community and the tourism industry as a whole. With its cutting-edge technology and innovative design, the new venue is expected to become a flagship project for the region, showcasing the best of what Maryland has to offer to everyone who visits.
