LAS VEGAS (FOX5) — The mini-Sphere planned for National Harbor in Maryland has been given the green light by lawmakers Tuesday to proceed with construction.
The Prince George’s County Council voted to approve critical public financing package for the project, authorizing up to $215 million in bonds, FOX5 DC reports.
The venue will have 6,000 seats and carries an estimated price tag of $1.4 billion, with developer Sphere Entertainment seeking nearly $184 million in public assistance from the county and state.
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While smaller than its Las Vegas counterpart, lawmakers project the development will generate a $1.3 billion economic impact for Prince George’s County and a $1.5 billion impact for the state of Maryland.
“Today, Prince George’s County enters the global stage and redefines itself as a destination for investment, entertainment, technology and innovation,” Prince George’s County Executive Aisha Braveboy said at a press conference following the vote. “These two pieces of legislation ensure that we get a world-class destination and that Prince George’s gets to build it.”
The venue will still need to undergo additional approvals and agreements, and its opening is expected to still be several years away.
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