We are a big step closer to a Sphere being built at National Harbor. It would be similar to but smaller than the one in Las Vegas.
On Tuesday, Gov. Wes Moore signed a bill in Annapolis that will help fund the project.
County Executive Aisha Braveboy and her team are calling it a huge victory after getting critical funding for the Sphere entertainment venue in Oxon Hill next to MGM National Harbor. Braveboy says the County will pay for 10 percent of the project.
“The County, through the tax increment financing, we will pledge $120 million in bonds. This is not cash that the county is giving; this is projected revenue increases. This is based on the improved value of the property,” Braveboy said.
The Sphere is expected to create 7,100 new jobs. Braveboy says the venue will hold concerts, have 6,000 seats and be a premier destination bringing millions in revenue to Prince George’s County.
Click here to read the rest of the article written by Tim Reid over at DC News Now
