Key Takeaways:
- National Harbor, Maryland, is set to become the second location for Sphere Entertainment in the US and the first to utilize a smaller-scale venue design model.
- The project is expected to create a new Maryland landmark, drive significant economic, cultural, and community benefits, and provide unparalleled immersive experiences.
- The venue will feature a 6,000-seat capacity, an Exosphere, and advanced technologies such as Sphere Immersive Sound, haptic seating, and 4D environmental effects.
- The project will receive approximately $200 million in state, local, and private incentives and is expected to generate millions in additional revenue for the County and State.
- The economic impact of Sphere National Harbor is expected to be greater than $1 billion annually.
Introduction to National Harbor, Maryland
National Harbor, Maryland, is a premier destination in the Washington, D.C. metropolitan area, attracting over 15 million visitors annually. The area offers world-class entertainment, dining, retail, gaming, convention, and leisure activities, making it an ideal location for the second Sphere Entertainment venue in the US. With its stunning views of the Potomac River and proximity to Washington, D.C., National Harbor is poised to become a major hub for immersive experiences and entertainment.
The Sphere Entertainment Venue
The proposed Sphere venue at National Harbor will be the first smaller-scale Sphere, with a capacity of 6,000 seats. The venue will feature an Exosphere, the exterior LED display that showcases artistic and branded content, as well as a 16K x 16K interior display plane, the world’s highest-resolution LED screen. The venue will also incorporate advanced technologies such as Sphere Immersive Sound, haptic seating, and 4D environmental effects, providing an unparalleled immersive experience for visitors.
Economic Benefits and Job Creation
The project is expected to create significant economic benefits for the County and State, generating millions in additional revenue and supporting approximately 2,500 jobs during the construction phase and 4,750 jobs once operational. The economic impact of Sphere National Harbor 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 venue will also attract new businesses, visitors, and residents, further boosting the local economy.
Partnership and Funding
The project will utilize a combination of public and private funding, including approximately $200 million in state, local, and private incentives. The partnership between Sphere Entertainment, the State of Maryland, Prince George’s County, and Peterson Companies demonstrates the strong collaboration and commitment to bringing this cutting-edge project to life. The funding will support the construction and operation of the venue, ensuring its success and longevity.
About Sphere Entertainment and Peterson Companies
Sphere Entertainment is a leader in immersive experiences, technology, and media, with a vision to create a global network of venues that deliver unparalleled immersive experiences. The company includes Sphere, an experiential medium powered by advanced technologies, as well as MSG Networks, which operates regional sports and entertainment networks. Peterson Companies is one of the largest privately-owned real estate development companies in the Washington, D.C. region, with a diverse portfolio spanning mixed-use, retail, residential, office, industrial, and self-storage assets.
Conclusion and Future Outlook
The announcement of the Sphere Entertainment venue at National Harbor, Maryland, marks a significant milestone in the company’s mission to create a global network of immersive experiences. With its cutting-edge technology, stunning design, and unparalleled immersive experiences, the venue is poised to become a major landmark and destination in the Washington, D.C. metropolitan area. As the project moves forward, it is expected to generate significant economic benefits, create new jobs, and attract visitors from around the world, cementing National Harbor’s position as a premier destination for entertainment and immersive experiences.
