National Harbor Sphere advances as Prince George's County Council approves plan
Prince George's County approves bonds for $1.4B National Harbor Sphere
The Prince George's County Council voted unanimously to advance plans for a proposed $1.4 billion entertainment Sphere at National Harbor, authorizing up to $215 million in public financing bonds. County Executive Angela Alsobrooks / Aisha Braveboy praised the 6,000-seat project as a transformative investment for the region, while pushing back against union pushback over project labor agreements by noting union contractors will still be able to compete for construction work.
NATIONAL HARBOR, Md. - Lawmakers took a major step toward bringing the proposed Sphere venue to National Harbor on Tuesday after the Prince George’s County Council voted to approve a critical public financing package for the project.
What we know:
The proposed 6,000-seat entertainment venue 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.
Sphere National Harbor (Sphere Entertainment Group)
Under the legislation, the county will authorize up to $215 million in bonds, repaid through tax revenues generated at National Harbor, to fund the public contribution and assist in refinancing existing debt.
RELATED: The Sphere: Final financing vote expected Tuesday for National Harbor venue
Speaking at a press conference, Prince George’s County Executive Aisha Braveboy projected 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. Braveboy added that the project is expected to produce roughly $63 million annually from property, sales, and amusement taxes alone.
What they're saying:
"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."
Supporters say it could create thousands of jobs and generate millions in tax revenue. However, critics questioned the use of public financing and labor unions have raised concerns about the lack of a project labor agreement for construction workers.
Braveboy pushed back on that concern.
"They have never entered into a agreement and they didn’t do so here but that has nothing to do with the union's ability to compete for and win contracts and to work," Braveboy said. "In fact, the unions know and expect to work on these projects and they will."
The vote delivers a major economic boost to Prince George’s County following a string of recent setbacks, including the announced closure of Six Flags, the Washington Commanders’ planned return to Washington, D.C., and the Trump administration’s opposition to relocating the FBI headquarters to Maryland.
There are still additional approvals and agreements to finalize, and the Sphere's potential opening is several years away.
The Source: Information in this article comes from Prince George's County Government, the Associated Press and previous FOX 5 reporting.