Maryland Council Approves Bonds for Sphere Venue

Lawmakers in Prince George's County, Maryland, voted Tuesday to approve financing for a smaller version of the Sphere entertainment venue planned for National Harbor, about 40 miles from Las Vegas. The council authorized up to $215 million in bonds to support the project, which carries an estimated cost of $1.4 billion. The venue is designed to seat 6,000 people.

The project still needs additional approvals and agreements before construction can move forward. Sphere Entertainment has requested nearly $184 million in public assistance from the county and the state of Maryland to help cover costs.

Prince George's County Executive Aisha Braveboy spoke after the vote. "Today, Prince George's County enters the global stage and redefines itself as a destination for investment, entertainment, technology and innovation," Braveboy said. "These two pieces of legislation ensure that we get a world-class destination and that Prince George's gets to build it."

County lawmakers project the venue will generate $1.3 billion in economic impact for Prince George's County and $1.5 billion for the state of Maryland. The facility would be smaller than the Sphere in Las Vegas.

The venue is expected to open several years from now, pending the remaining approvals and agreements.